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President Barack Obama on Friday named experienced central banker and internationally respected economist Stanley Fischer to serve as the vice chairman of the Federal Reserve, the White House said. Obama also nominated Lael Brainard, who served as the Treasury Department's top official for international affairs, to serve on the Fed board. The president further named Fed Governor Jerome Powell to a new term on the board ending in 2028. The Federal Reserve will likely consider further reductions in the pace of bond purchases at coming meetings given the improvement in the labor market conditions, a top Fed official said on Friday. Richmond Federal Reserve President Jeffrey Lacker said although a recent pick-up in U.S. economic growth was encouraging, he expected the pace of expansion to ease this year to closer to 2 percent. Some policymakers have expressed concern about inflation running persistently below the Fed's 2 percent target -- on its preferred measure inflation is running at just 1.1 percent on an annual basis. While the Wii U is still the "console who must not be named" in terms of sales at this point, Nintendo is more than happy to boast about its other piece of hardware, the 3DS. The handheld has exploded in popularity this year, even competing against a smartphone market that was supposed to doom the very concept of a games-only pocket device. Target Corporation said the massive payment card data breach that occurred during the first three weeks of the holiday shopping season affected 70 million customers, 30 million more than its previous estimate. The company also cut its fourth-quarter adjusted earnings per share forecast for its U.S. operations to $1.20 to $1.30, from $1.50 to $1.60. Equity analyst Ken Perkins