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For Immediate Release
Office of the Press Secretary
March 5, 2001

President Bush to Nominate Dam as Deputy Secretary of the Treasury and Ferguson as a Member of the Board of Governors of the Federal Reserve System

President George W. Bush today announced his intention to nominate two individuals to serve in his administration.

The President intends to nominate Kenneth Dam to be Deputy Secretary of the Treasury.  He is presently a Professor of American and Foreign Law at the University of Chicago Law School.  He has previously served as Corporate Vice President for Law and External Affairs at IBM Corporation and was Deputy Secretary of State from 1982 to 1985.  He is a graduate of the University of Kansas and received his J.D. from the University of Chicago.

The President intends to nominate Roger Walton Ferguson, Jr. to be a Member of the Board of Governors of the Federal Reserve System.  He will serve the remainder of the fourteen-year term expiring January 31, 2014, as a representative of the Boston Federal Reserve district.  Mr. Ferguson was appointed to the Board of Governors in 1997 and has served as Vice Chairman of the Board of Governors since 1999.  He is a graduate of Harvard University and Harvard Law School, and he received his Ph.D. in economics from Harvard University in 1981.

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