Panel schedules vote on all five Fed nominees

(Feb. 4, 2022) Less than two weeks from now, the nominations of those testifying this week – along with two other Fed nominees – will be considered in vote by Senate Banking Committee, the panel announced this week.

The committee said it would hold a vote Feb. 15 on the nominations of Raskin, Cook and Jefferson, as well as on the nominations of Jerome H. (“Jay”) Powell and Lael Brainard, for chair and vice chair of the Fed Board, respectively. If confirmed, Powell and Brainard would serve in those positions until February 2026. Their terms on the board run to 2028 and 2026, respectively. The other three, if confirmed, would serve terms that end in 2032 for Raskin, 2024 for Cook, and 2036 for Jefferson. Raskin’s term as supervision vice chair, if confirmed, would end in 2026.

There will be six votes when the panel meets at mid-month – which includes two, separate votes for Raskin as a board member and vice chair.