Powell’s Fed Nomination Goes Back to Committee
January 12, 2018
President Trump’s nomination of Jerome Powell to become the next chairman of the Federal Reserve is being sent back to the Senate Banking Committee for a second vote on Jan. 17.
According to a Reuters report, the committee already approved Powell in a Dec. 5 vote. However, the full Senate failed to vote on the nomination prior to the end of the 2017. As a result, Senate procedures require a second vote before the nomination can continue to the full chamber.
Powell is expected to clear the committee without issue. Republican hold a slender 51 to 49 edge in the full Senate, where a simple majority vote is needed to assure the nomination’s approval.
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