The Obama administration has narrowed its search for candidates for two empty seats on the seven-member Federal Reserve Board to a pair of economists, one Democrat and one Republican, according to several people familiar with the deliberations.
The two are Jeremy Stein, a Harvard University specialist in finance, and Richard Clarida, an executive vice president at money manager Pimco who is also a professor of economics and international affairs at Columbia University.
Mr. Stein did a stint in the White House at the beginning of Barack Obama's presidency. Mr. Clarida was a Treasury official in the early years of the George W. Bush administration.
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