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Banking Chair Wants to Expedite Powell, Brainard Confirmations

  • Senator Brown says he wants to hold hearings in coming weeks
  • Senate will confirm both nominees, Ohio Democrat predicts
Senator Sherrod Brown

Senator Sherrod Brown

Photographer: Sarah Silbiger/Bloomberg

The Senate Banking Committee is considering hearings as early as December on the nominations of Federal Reserve Chair Jerome Powell for a second term as leader of the nation’s central bank and the elevation of Fed Governor Lael Brainard to become vice chair.

Sherrod Brown, the panel’s chairman and an Ohio Democrat, said he wants to move quickly on confirming both Fed policymakers, although the exact timing of their hearings isn’t set. Brown said he’d comply with a rule that confirmation hearings come at least two weeks after the White House sends the Senate paperwork formalizing them as President Joe Biden’s selections.