Senate confirms Jerome Powell as Fed chairman

by
January 24, 2018

The Senate on Tuesday voted to confirm Federal Reserve Governor Jerome Powell as the next chairman of the central bank by an overwhelming bipartisan margin.

The vote on Powell’s confirmation quickly cleared the simple majority of senators necessary to confirm him to replace Fed Chairwoman Janet Yellen on Feb. 3. The final count stood at 84-13, one of the widest margins of confirmation for a Trump nominee.

Nearly all Republicans and a vast majority of Democrats supported Powell’s confirmation. Those opposed included conservative GOP Sens. Ted Cruz (Texas), Rand Paul (Ky.), Marco Rubio (Fla.) and Mike Lee (Utah), and potential 2020 Democratic presidential candidates Sens. Elizabeth Warren (Mass.), Kirsten Gillibrand (N.Y.), Kamala Harris (Calif.) and Bernie Sanders (I-Vt.).

The Senate voted earlier Tuesday afternoon to end debate on Powell’s nomination in an 84-12 vote.

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