Senate Confirms Obama’s Nominees For Fed Board

Posted by Orb Staff on May 18, 2012 No Comments
Categories : Residential Mortgage

11585_fed Senate Confirms Obama's Nominees For Fed Board The U.S. Senate has confirmed President Obama's nominations of Jeremy Stein and Jerome Powell as governors of the Federal Reserve System.

Stein, who was confirmed in a 70-24 vote, is a Harvard University economics professor and a former senior adviser to Treasury Secretary Timothy Geithner. Powell, who was confirmed in a 74-12 vote, is a visiting scholar at the Bipartisan Policy Center in Washington, D.C., and previously served as undersecretary of finance in the Treasury Department during President George H.W. Bush's administration.

After Stein and Powell are officially sworn in, the Federal Reserve's board will have all seven positions filled for the first time since 2006.

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