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The Senate moved ahead Monday evening with consideration of President Biden’s nominees to the Federal Reserve, beginning with a procedural vote clearing the path to confirm governor Lael Brainard later this week as the central bank’s vice chairwoman.
The 54-40 tally indicated Brainard will be confirmed with bipartisan support. Eight Republicans joined 46 senators who caucus with the Democrats in moving her nomination forward. Four Fed nominees are up for confirmation, and it is unknown if the two who would be new to the board would be seated ahead of next week’s rate-setting meeting.
Source: This post first appeared on http://marketwatch.com/