An article on page 2 of Tuesday's paper, "White House Settles on Fed Picks From Outside Banking Industry," incorrectly stated that if confirmed, McKinsey & Co. consultant Roger W. Ferguson would be the second African- American to serve as a governor of the Federal Reserve Board. In fact, he would be the third. Andrew F. Brimmer served from 1966 to 1974 and Emmett J. Rice from 1979 to 1986.

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