Fischer sworn in as Fed vice chair, Brainard and Powell as board members

WASHINGTON Mon Jun 16, 2014 10:54am EDT

Stanley Fischer, the former chief of the Bank of Israel, testifies before the Senate Banking Committee confirmation hearing on his nomination to be a member and vice chairman of the Federal Reserve Board of Governors on Capitol Hill in Washington March 13, 2014. REUTERS/Yuri Gripas

Stanley Fischer, the former chief of the Bank of Israel, testifies before the Senate Banking Committee confirmation hearing on his nomination to be a member and vice chairman of the Federal Reserve Board of Governors on Capitol Hill in Washington March 13, 2014.

Credit: Reuters/Yuri Gripas

WASHINGTON (Reuters) - Stanley Fischer was sworn in as vice chair of the U.S. Federal Reserve and Lael Brainard took the oath of office to join the central bank's board of governors, the Fed announced on Monday.

Current Fed board member Jerome Powell was sworn in to a new 14-year term.

The three were confirmed by the Senate last week. Brainard, a former top Treasury official, and Fischer, a noted academic and former Bank of Israel governor, will participate in their first Fed policy meeting on Tuesday and Wednesday.

The Fed holds a press conference on Wednesday to announce its latest economic projections and interest rate decision.

(Reporting by Howard Schneider; Editing by Paul Simao)

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