GOP Offers Few Objections To Biden's Fed Nominees

Punchbowl News reports that President Biden’s latest trio of Fed nominees are facing, “limited opposition from the GOP” in the Senate Banking Committee, despite the nominees representing, “a hefty chunk of the Biden administration’s financial policy personnel picks.”

• Fed board member Philip Jefferson has been nominated to fill the vacant vice chair seat of Lael Brainard who now heads up the White House National Economic Council.
• Lisa Cook has been nominated for a full 14-year term, and former executive director at the World Bank, Adriana Kugler, has been nominated to the board of governors.
• Punchbowl notes: “Last week’s nomination hearing was about as genteel as one could expect. A number of Republicans, including Sen. Thom Tillis (R-N.C.), signaled support for Jefferson in particular.”
• The most significant opposition to the trio came from conservative Senator JD Vance (R-OH) who subjected Lisa Cook to some sharp questioning on diversity policy, but noted by the end of the hearing that Cook was “likely to be confirmed.”
• The Senate returns from the July 4 recess on July 10 and Banking Committee Chair Sherrod Brown (D-OH) is likely to schedule a committee vote on the nominations shortly after.