Senate Confirms Two Fed Governors, Makes Fischer Vice Chairman

The U.S. Senate confirmed two nominees to the Federal Reserve board and made Stanley Fischer Fed vice chairman less than a week before policy makers gather to consider further tapering record accommodation.

Lael Brainard, former U.S. Treasury undersecretary for international affairs, won approval yesterday as a Fed governor, while Jerome Powell gained a second term. With the confirmations, five of the seven seats on the Fed board are filled for the first time since Ben S. Bernanke stepped down at the end of his second term as chairman in January.