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MNI BRIEF: Senate Approves Fed Nominee Philip Jefferson

(MNI) Washington

Jefferson set to join the Fed amid a full-on fight against inflation.

USPolicyFederal ReserveCentral BankBriefStoryRegionNorth America

The Senate on Tuesday confirmed Philip Jefferson to join the Federal Reserve Board of Governors, the fourth Black man to be a governor at the U.S. central bank.

Jefferson's confirmation passed the Senate with a vote of 91 to 7, and it comes after an announcement earlier in the day naming Lorie Logan the next Dallas Fed President and after Lisa Cook was approved to the Fed board on Tuesday. Lawmakers on Thursday are expected to hand Jerome Powell a second term as Fed chair.

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The Senate on Tuesday confirmed Philip Jefferson to join the Federal Reserve Board of Governors, the fourth Black man to be a governor at the U.S. central bank.

Jefferson's confirmation passed the Senate with a vote of 91 to 7, and it comes after an announcement earlier in the day naming Lorie Logan the next Dallas Fed President and after Lisa Cook was approved to the Fed board on Tuesday. Lawmakers on Thursday are expected to hand Jerome Powell a second term as Fed chair.

Keep reading...Show less