Jefferson set to join the Fed amid a full-on fight against inflation.
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.
Jefferson will join a committee debating whether an unusually large 75bp rate increase will be appropriate down the line if inflation remains stubbornly high. (See: MNI INTERVIEW: Fed's Barkin Says Hikes Not On Set 50BP Course)