Brainard, Powell Confirmed for Fed; Fischer as Vice Chairman

Lael Brainard, a former U.S. Treasury undersecretary for international affairs, won Senate confirmation as a Federal Reserve governor along with Jerome Powell, while Stanley Fischer was approved as Fed vice chairman.

Brainard’s nomination today passed 61-31, while the vote for a second term for Powell was 67-24. The two were nominated by President Barack Obama in January, along with Fischer, former head of the Bank of Israel. Fischer, whose nomination to the board was approved last month, became the No. 2 Fed official in a 63-24 vote.