Mishkin joins Fed board

Frederic Mishkin has been officially sworn in as a member of the US Federal Reserve Board.

Mishkin fills a vacancy left by Roger Ferguson, who stepped down as vice-chairman and member of the board in April. Before becoming a member of the board, he was the Alfred Lerner Professor of Banking and Financial Institutions at Columbia University. He also served as director of research at the New York Federal Reserve Bank from 1994 to 1997.

He has been an adviser to the World Bank, the International Monetary Fund, the Inter-American Development Bank and several central banks. President Bush announced his appointment at the end of June and it was confirmed by Senate vote the next month. Mishkin’s term will expire at the end of January 2014.

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