US Senate confirms ex-BoI head Stanley Fischer, two other nominees for Fed
June 12, 2014 22:14
The US Senate on Thursday confirmed Stanley Fischer to be vice chairman of the Federal Reserve and approved Jerome Powell and Lael Brainard as members of the central bank's board, bolstering the Fed as it prepares to wind down its extraordinary stimulus.
Fischer, confirmed last month as a member of the board, was approved to be the central bank's influential No. 2 on a 63 to 24 vote. Powell, already a member of the board, was granted a new 14-year term on a 67 to 24 vote. Brainard, a former top official at the US Treasury, was backed 61 to 31.
The votes mean all three should be in place for next week's meeting of the Fed's monetary policy committee, joining the debate over how to pull back the economic supports put in place to counter the recession and nurse the recovery.