The U.S. Senate overwhelmingly voted on Wednesday to confirm Philip Jefferson to be vice chair of the Federal Reserve, signaling broad bipartisan support for the U.S. central bank's second-in-command as policymakers near a potential watershed moment in their battle against inflation.
Jefferson was a longtime economics professor and college dean before becoming a Fed governor in May of 2022. He has voted for every interest rate hike since then as the central bank has lifted its benchmark overnight interest rate from the near-zero level in March 2022 to the current 5.25%-5.50% range.
But they will also likely keep the door open for one last rate hike before the end of the year, giving themselves time to assess if they have done enough to vanquish inflation that just last year was running at 40-year highs. Jefferson's new role means he will work closely with Powell and New York Fed President John Williams to hash out policy alternatives ahead of each rate-setting meeting attended by the full panel of 19 U.S. central bankers.
Senators in a separate procedure also cleared the way for the confirmation of Fed Governor Lisa Cook for a fresh 14-year term at the U.S. central bank, though it passed by only a slim margin. Like Jefferson, she has also voted for every rate hike since she joined the board in May of 2022.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Fed vice chair nominee Jefferson heads to Senate confirmation By ReutersFed vice chair nominee Jefferson heads to Senate confirmation
Baca lebih lajut »
Jefferson wins majority Senate support as Fed Vice Chair By ReutersJefferson wins majority Senate support as Fed Vice Chair
Baca lebih lajut »
U.S. Senate overwhelmingly confirms Jefferson as Fed's No.2The U.S. Senate on Wednesday voted to confirm Fed Gov. Philip Jefferson as the Fed's Vice Chair.
Baca lebih lajut »
US Senate confirms Philip Jefferson as Federal Reserve vice chairMembers of U.S. Senate overwhelmingly voted in favor of confirming Philip Jefferson to serve as the next vice chair of the Federal Reserve.
Baca lebih lajut »
Philip Jefferson confirmed as vice chairman of the Fed as it tries to bring down inflationThe Senate on Wednesday approved the nomination of Philip Jefferson to serve as vice chairman of the Federal Reserve Board of Governors in a wide bipartisan vote.
Baca lebih lajut »
Fed nominee Cook heads to confirmation with Senate vote By ReutersFed nominee Cook heads to confirmation with Senate vote
Baca lebih lajut »