Likely Fed Picks Back Low Rates

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BY SUDEEP REDDY AND JON HILSENRATH

Janet Yellen's expected nomination as Federal Reserve vice chairman would bring a strong advocate of low interest rates into the central bank's leadership just as the Fed weighs how to unwind its extraordinary intervention in the economy.

For two other vacancies on the Fed's board, the White House says it is considering Sarah Raskin, Maryland's commissioner of financial regulation, and Massachusetts Institute of Technology economist Peter Diamond, an expert on Social Security, pensions and taxation. The three nominees are being vetted and plans could change before an announcement.

President Barack Obama's unusual opportunity to name three new members to the ...

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