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Jerome Powell has been confirmed for a second four-year term at the helm of the Federal Reserve. The Senate approved his reappointment as president of the Fed with a large majority of 80 in favor and 19 against. The vote had long been postponed after the 69-year-old former investment banker was appointed last November by President Joe Biden for a new term.
The vote was the last expected, following the confirmation of Lael Brainard as vice president, and Lisa Cook and Philip Jefferson as governors, but the White House must propose a new candidate for the position of vice president for banking regulation, after leaving Sarah Bloom Raskin for lack of sufficient support.