Powell, Brainard Fed Nominations Advance to Full Senate Vote (1)

Jerome Powell won bipartisan support from a Senate panel for a second term as Federal Reserve chair on Wednesday evening while President Joe Biden’s other remaining nominees to join the central bank also advanced.

The Senate Banking Committee approved Powell in a 23-1 vote. The panel also backed sending the nominations of Lael Brainard as vice chair and Philip Jefferson as Fed governors to the full Senate for votes on confirmation.

Jerome Powell

Photographer: Brendan Smialowski/AFP/Bloomberg

The committee, evenly split between Democrats and Republicans, deadlocked 12-12 on Lisa Cook’s nomination to the board of governors, which will require an additional procedural vote ...