(Reuters) – The U.S. Senate overwhelmingly voted Wednesday to confirm Philip Jefferson, an economics major and dean at Davidson College, as a member of the Federal Reserve Board.

With all the Republicans voting no, Jefferson was elected to office by a vote of 91-7. His appointment is fourth Black to serve as a U.S. Central Bank governor. His term ends in 2036.

Jerome Powell will be confirmed as Fed chair by lawmakers Thursday. But, that margin is expected to shrink.

But, this vote won’t just be an endorsement for his handling of the 2020 pandemic, and of the disastrous 2020 recession, which marked his first term. It will also support the March round of steep interest rate increases he started to counter the high inflation, now in its second decade.

Jefferson was confirmed the day after Kamala Harris (Vice President) cast a tie-breaking Senate vote to confirm Lisa Cook, a nominee of President Joe Biden to the Fed.

This is her first time as a Fed Governor for a Black woman. Never before have two Black governors served concurrently on the Fed Board.

Jefferson sees the confirmation as a small return to his roots. His first job, after graduating Vassar College in New York State, was as a research assistant for the Fed.

He taught economics at Swarthmore College, Pennsylvania and Columbia University, New York for over two decades before he took up his position at Davidson College. He is a published researcher on monetary policies and has written extensively about wages, poverty and income distribution.

One seat will remain vacant on the seven-member panel.

Biden stated earlier this month that he will nominate Michael Barr, a former Treasury official to serve as the Fed’s vice-chair of supervision. Sarah Bloom Raskin (Biden’s first pick), was withdrawn by Republicans after one Democrat blocked her path to confirmation.