President Obama said he will nominate two former Treasury Department officials for the Federal Reserve Board, including one who served in a Republican administration.

Jerome Powell, an attorney who was a Treasury undersecretary for former President George H.W. Bush, and Jeremy Stein, a Harvard University economist who has advised the current administration, are Obama’s picks.

Pairing candidates who served under both parties may help ease approval by a Senate where the Democrats’ majority narrowed last year.

The Fed’s seven-member board has two vacancies. While the term of Elizabeth Duke, an appointee of President George W. Bush, expires Jan. 31, she can continue to serve until a successor is appointed.

Referring to the nominees, Obama said that “their distinguished backgrounds and experience coupled with their impressive knowledge of economic and monetary policy make them tremendously qualified.”