Senate committee approves 3 nominees for Fed board
US Senate committee approves 3 nominees to fill vacancies on Federal Reserve board
Associated Press
2014-04-29 11:01 PM

WASHINGTON (AP) -- A Senate committee has advanced the nominations of three officials selected by President Barack Obama to fill vacancies on the seven-member Federal Reserve Board.

The Banking Committee approved the nominations of Stanley Fischer to be vice chairman and Lael Brainard to be a board member. It also approved the nomination of Jerome Powell, a current board member, for another term.

The three, approved on a voice vote, are expected to win easy approval in the full Senate. Committee Chairman Tim Johnson has said that given the vacancies on the Fed board, it's important for the Senate to act quickly on the nominations.

Fischer, a former head of the Bank of Israel, would succeed Janet Yellen in the No. 2 job, the post she vacated to become Fed chair.

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