David Wessel tweets:

White House eyes ex-Bush Tsy official Jay Powell for one Fed vacancy, Harvard's Jeremy Stein for another

Finally. Although Powell is a Republican... This is not the change I was hoping for seeing as Republicans are trying to destroy the town in order to save it, metaphorically speaking. They want to make Obama a one term President by blocking any legislation or appointments which might help fix the economy.

Maybe Powell is a closet NGDP targeting supporter...

In August they floated Stein and Richard Clarinda of PIMCO. I assume Senator Dick Shelby didn't go for Clarinda.