Bloomberg News

2 Fed Nominees Approved by Senate Committee

March 29, 2012

Jerome Powell, nominee to be a member of the board of governors with the U.S. Federal Reserve, left, speaks during a Senate Banking Committee hearing with fellow nominee Jeremy Stein in Washington, D.C. on March 20, 2012.  Photographer: Andrew Harrer/Bloomberg

Jerome Powell, nominee to be a member of the board of governors with the U.S. Federal Reserve, left, speaks during a Senate Banking Committee hearing with fellow nominee Jeremy Stein in Washington, D.C. on March 20, 2012. Photographer: Andrew Harrer/Bloomberg

The Senate Banking Committee approved both of President Barack Obama’s nominees to the Federal Reserve’s Board of Governors, advancing them to the full Senate for a final confirmation vote.

The panel voted to approve the nominations of Harvard University professor Jeremy Stein and Jerome Powell, an attorney and private equity investor who was a Treasury undersecretary for President George H.W. Bush.

To contact the reporter on this story: Jeff Kearns in Washington at jkearns3@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net


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