WASHINGTON — Jeremy Stein, a professor of economics at Harvard University, became the seventh governor to join the Federal Reserve Board, the central bank said Wednesday.
Stein will fill an unexpired term ending Jan. 31, 2018, which was vacated by the resignation of Kevin Warsh last April. He was nominated by President Obama for the role in December.
He was officially sworn in by Fed Chairman Ben Bernanke, ending a six-year stretch where the board operated at less than full capacity.
Fellow nominee Jerome Powell, a former top Treasury Department official under President George H. W. Bush, was sworn in on May 25.
The Senate confirmed Stein and Powell on May 17.