Odaily Planet Daily News The U.S. Senate voted 88-10 local time on Wednesday to confirm the nomination of Philip Jefferson (Philip Jefferson) as the vice chairman of the Federal Reserve, and several other nominees for the Federal Reserve will also be voted on.
Jefferson, who will be the second African-American ever to serve as vice-chairman, will also serve as a trustee until 2036. The term of the Vice-Chairman is four years.
Jefferson, 61, has voted in favor of every rate decision since joining the Fed's board of governors. Jefferson had hinted at a possible pause in rate hikes ahead of the Fed's June decision to keep rates unchanged.
Voting on the re-election of Fed Governor Lisa Cook and the nomination of Adriana Kugler to governor will also take place this week. (Global Market Report)