Jefferson wins majority Senate support as Fed Vice Chair
By Richard Cowan and Ann Saphir
(Reuters) -A broad bipartisan majority of the U.S. Senate on Wednesday voted to confirm Federal Reserve Governor Philip Jefferson as vice chair of the U.S. central bank.
Senators are expected later on Wednesday to also take up the nominations of Fed Governor Lisa Cook to a new 14-year term, and of World Bank economist Adriana Kugler to fill the last open seat at the seven-member Fed Board.
Confirmations would put the three in place ahead of the Fed's next policy-setting meeting on Sept 19-20, at which policymakers are widely expected to leave the benchmark rate in its current range of 5.25%-5.5%, but to also leave the door open for one last rate hike before the end of the year.
Jefferson and Cook joined the Fed in May 2022 and have voted for all of the Fed's rate hikes since then.
Read more on investing.com
