Senate approves 3 nominations for Fed board

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Associated Press

Posted on June 12, 2014 at 4:00 PM

Updated Thursday, Jun 12 at 4:13 PM

WASHINGTON (AP) — The Senate has confirmed President Barack Obama's nomination of Stanley Fischer to be vice chairman of the Federal Reserve. It also approved Lael Brainard and Jerome Powell to serve on the Fed's board.

The votes fill vacancies just before a meeting of the central bank's policy panel next week.

The Senate voted 63-24 to approve the nomination of Fischer, a former head of the Bank of Israel, to the Fed's No. 2 post. Brainard, a former Treasury undersecretary for international affairs, was approved on a 61-31 vote, and Powell won a second term on the Fed board on a 67-24 vote.

The Senate's action means five of the seven Fed board seats have now been filled in advance of a meeting of the central bank's interest-rate committee Tuesday and Wednesday.

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