Will Obama's Fed Board nominees be confirmed by Senate?

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federalreserve.gov

Will Obama's Fed Board nominees be confirmed by Senate?

Asked by:

kruijs in Politics » United States
Settled on 05/18/2012 19:25 Settled by

kruijs

Winning option:Both are confirmed The Senate on Thursday confirmed two nominees chosen by President Obama for the Federal Reserve Board of Governors, overcoming Republican objections and bringing the seven-member board to full strength for the first time since 2006, before the economic crisis.
The Harvard economist Jeremy C. Stein and the investment banker and lawyer Jerome H. Powell were confirmed easily after a morning of debate. The vote for Mr. Stein was 70 to 24, and for Mr. Powell, 74 to 21.

http://www.nytimes.com/2012/05/18/business/senate-confirms-fed-board-nominees.html

thanks charlesf for the settlement request.

Predictions

Both are confirmed

Only one is confirmed

None of them is confirmed

Background

President Obama said Tuesday that he would nominate a Harvard economist and a former Treasury official to fill the two vacant seats on the Federal Reserve’s board of governors.

In a statement, Mr. Obama lauded their “impressive knowledge of economic and monetary policy.”

The nominations end months of waiting for the White House to resume its effort to fill the vacancies after it was forced to withdraw the nomination of an earlier candidate, the Nobel Prize laureate Peter Diamond, because Senate Republicans would not allow a vote.

The inclusion of Mr. Powell, a Republican, could help to smooth the way for Senate confirmation of both nominations this time around.

http://www.nytimes.com/2011/12/28/business/economy/obama-to-nominate-economics-professor-and-ex-treasury-official-to-fed-board.html

Comments

Comment on this question:

04/09/2012 20:08

kruijs

Two nominees to the Federal Reserveâ€™s Board of Governors were approved today by the Senate Banking Committee, advancing their appointments toward a possible confirmation vote by the full chamber.

The nominations would need bipartisan support to pass in the full Senate. While Democrats control 53 votes in the 100- member chamber, Senate leaders would need at least 60 senators to gain final approval.

http://www.bloomberg.com/news/2012-03-29/fed-board-nominees-powell-stein-backed-by-senate-committee.html

03/20/2012 20:56

kruijs

President Barack Obamaâ€™s nominees for the two vacancies on the Federal Reserve Board of Governors pledged Tuesday to leave politics and ideology out of policy decisions.

http://www.marketwatch.com/story/fed-nominees-pledge-to-leave-politics-behind-2012-03-20

02/29/2012 21:27

kruijs

The Senate Banking Committee hopes to hold confirmation hearings in March for President Barack Obamaâ€™s nominees to fill the two vacant spots on the Federal Reserve Board, according to an aide.

The hearing for the two Fed picksâ€“Harvard University finance professor Jeremy Stein and private-equity executive Jerome Powellâ€“will be just the start of what is likely to be a contentious process.

http://blogs.wsj.com/economics/2012/02/23/senate-panel-aims-for-hearings-on-fed-board-nominees/

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