The Senate Banking Committee on Wednesday advanced three Federal Reserve nominees, including Jerome Powell for a second term as chairman, ending a weekslong boycott by committee Republicans.
Sarah Bloom Raskin’s withdrawal from consideration to be the Fed’s vice chair for supervision Tuesday paved the way for Wednesday evening votes on Powell, Fed Governor Lael Brainard to be vice chair, Philip Jefferson and Lisa Cook to join the Fed board, and Sandra Thompson to lead the Federal Housing Finance Agency.
“I’m eager to get President Biden’s talented, qualified nominees to the Federal Reserve Board on the job,” Senate Banking Chairman Sherrod Brown, D-Ohio, said. “Since President Biden took office we’ve made tremendous economic progress as a country. The nominees we vote on today are crucial to continuing that progress.”
