Obama names economist Sheets as treasury international undersecretary
Sheets has been the global head of international economics at Citi in New York since 2011. Before joining Citi, one of the world's largest banking conglomerates, Sheets spent much of his career as an economist at the Fed.
If confirmed by the Senate, Sheets would play a central role in U.S. financial diplomacy and help shape international discussions on the global economy.
However, as the U.S. representative at international conclaves, he would also have to contend with complaints from emerging market nations whose economies are reeling from a dramatic reversal of money flows tied partly to the U.S. central bank's decision to curtail its economic stimulus.
He would also get an earful from developing countries frustrated by U.S. intransigence in following through on a promise to give emerging economies a bigger say at the IMF.