Members of U.S. Senate overwhelmingly voted in favor of confirming Philip Jefferson to serve as the next vice chair of the Federal Reserve.
Senators are also expected to vote on the nominations of Fed governor Lisa Cook for a full 14-year term and former U.S. Department of Labor chief economist Adriana Kugler for one of the board’s empty seats. If confirmed, Kugler and Cook would serve for terms both ending in 2037. Jefferson will serve as vice chair as part of his existing term as governor until 2036.
that he believes there should be a “robust federal role” in stablecoin regulation. He has also been supportive of many interest rate hikes in 2023, affecting markets across the country. Powell’s current term at the Fed is expected to end in 2028.
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