Economist picked for Fed board

President Obama is nominating economist Kathryn Dominguez to serve on the Federal Reserve’s board of governors.

In a statement, Obama said Dominguez’s deep knowledge of the financial system, monetary policy and international markets qualifies her to serve at “this important time for our economy.”

The White House said Dominguez’s expertise will be particularly important as the Fed considers how international financial conditions interact with U. S. monetary policy and banking regulations.

Dominguez is a professor at the University of Michigan. She’s a graduate of Vassar College and holds a PhD in economics from Yale University. Dominguez must be confirmed by the Senate to serve her14- year termon the board of governors.