The Senate voted 52-43 to approve Federal Reserve Governor Lael Brainard’s nomination for Fed vice chair.
About: Brainard has served as a member of the Fed board since June 2014, previously serving as Treasury undersecretary.
Pending Nominees: President Joe Biden’s other Fed nominees continue to await Senate votes. Biden renominated Fed Chairman Jerome Powell and has nominated academics Lisa DeNell Cook and Philip Nathan Jefferson to serve as Fed governors.
Latest Nomination: Biden earlier this month announced his intent to nominate former Treasury official Michael Barr for Fed vice chair for supervision following former Fed Governor Sarah Bloom Raskin’s withdrawal. Once nominated, Barr will need to be considered by the Senate Banking Committee before advancing to a Senate vote.