Fed nominees move a step closer to confirmation -Breaking
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© Reuters. FILE PHOTO Federal Reserve Board Governor Lael Mindard speaks before the Senate Banking Committee, Washington, U.S.A, 13 January 2022. REUTERS/Elizabeth Frantz(Reuters] – The nominations of President Joe Biden to the Federal Reserve have moved closer to confirmation. Lael brainard, Biden’s choice to serve as the U.S. central banking vice chairman, received enough votes Monday night to overcome a procedural obstacle in the U.S. Senate.
A 30-hour wait period will be established before the final Senate confirmation vote. The Brainard 54-40 Cloture Vote begins. Brainard is currently Fed Governor. The cloture vote for Lisa Cook (Michigan State University) could take place as soon as Tuesday. The Senate could confirm all four Fed nominees this week, including Fed Chair Jerome Powell.
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