Washington:
President Barack Obama is nominating Sarah Bloom Raskin, a member of the Federal Reserve board, to the second-highest position at the Treasury Department.
The White House says Obama has asked Raskin to serve as deputy Treasury secretary. If confirmed by the Senate she would succeed Neal Wolin, who stepped down earlier this month.
Raskin was the top banking regulator in Maryland before joining the Fed board in 2010. Her departure comes after fellow board member Elizabeth Duke announced she will step down next month.
Once Duke and Raskin are gone, Vice Chair Janet Yellen would be the only woman on the Fed board. Yellen is considered a leading candidate to succeed Ben Bernanke when his term as Fed chairman ends next year.