Senate Confirms Brainard as Fed Vice Chair
On April 26, Federal Reserve Governor Lael Brainard was confirmed by the Senate to become the central bank’s Vice Chair with a 52-43 vote. Brainard has served as a Fed governor since 2014 and was originally nominated by President Barack Obama. In her new position she will serve as top adviser to Chairman Jerome Powell. The Fed’s policy agenda isn’t expected to change as it grapples with reducing stimulus and controlling inflation. Senate votes on three remaining Fed nominees – Powell to a second term as Chair and Philip Jefferson and Lisa Cook to fill two open governor positions – are expected soon. Read more.