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A bipartisan coalition of lawmakers is pushing the Obama administration to nominate someone with community banking experience to the Federal Reserve Board.
April 30 -
WASHINGTON The Senate Banking Committee voted Tuesday to advance three nominations to the Federal Reserve Board.
April 29
WASHINGTON The Senate confirmed three officials to the Federal Reserve Board on Thursday, filling several key holes at the agency's helm.
Stanley Fischer, who was sworn in as a Fed governor last month, was confirmed as vice chairman of the board by a vote of 63-24. Fischer will succeed Janet Yellen, who now serves as chairman of the Fed.
Lael Brainard, the former undersecretary for international affairs at the Treasury Department, was approved to join the board by a vote of 61-31.
Jerome Powell, a sitting Fed governor, was re-confirmed for a new term 67-24. He has served on the board since 2012.
Aside from the latest confirmations, the Fed still has two open spots remaining on its board, with a growing number of lawmakers pressuring President Obama to nominate someone with community banking experience.
