9.8.23
This week the U.S. Senate overwhelmingly expressed support by a vote of 88-10 to confirm Philip Jefferson as the Federal Reserve Board’s next Vice Chair. He succeeds Lael Brainard, who departed the Fed earlier this year to become the Director of the National Economic Council. In a much closer 51-47 vote, the Senate also confirmed Fed Governor Lisa Cook’s nomination to serve another full term. The upper chamber also voted to confirm Adriana Kugler’s nomination to the Fed Board by a vote of 53-45.