Senate Committee Re-Approves Trump Pick Jerome Powell As Fed Reserve Chair

WASHINGTON Nov. 28, 2017  --U.S. Federal Reserve System Chairman nominee Jerome Powell is sworn-in before testifying in front of the Senate Banking Committee at the Capitol in Washington D.C., United States of America on Nov 28, 2017. (Ting Shen/Xinhua)
Xinhua News Agency/Xinhua News Agency

WASHINGTON (AP) — The Senate Banking Committee has voted for a second time to approve President Donald Trump’s nomination of Jerome Powell to be the next chairman of the Federal Reserve.

The approval Wednesday was by voice vote with Sen. Elizabeth Warren, D-Massachusetts, asking to be recorded as voting no. The re-vote was needed because the full Senate did not take up Powell’s nomination last year. The term of current Fed Chair Janet Yellen ends on Feb. 3.

The committee also approved Fed board member Randal Quarles for a full 14-year term on the Fed board. He won approval last year for a shorter term. His nomination was also approved by voice vote, with Warren and Sens. Jack Reed, D-Rhode Island, and Catherine Cortez Masto, D-Nevada, voting no.

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