Fed nominee Cook heads to confirmation with Senate vote By Reuters

© Reuters. Member of the Federal Reserve Board of Governors Lisa Cook heads in to attend the opening dinner of the Kansas City Fed’s annual economic symposium in Jackson Hole, Wyoming, U.S., August 24, 2023. REUTERS/Ann Saphir

By Ann Saphir

(Reuters) – The U.S. Senate voted 52-47 to clear the way for the confirmation of Federal Reserve Governor Lisa Cook for a fresh 14-year term at the U.S. central bank.

The cloture vote limits debate on Cook’s nomination; a final confirmation vote is scheduled for later Wednesday. The Senate earlier confirmed Fed Governor Philip Jefferson as Fed vice chair in a bipartisan landslide.

The Senate is also expected later Wednesday to hold a cloture vote on the nomination of World Bank economist Adriana Kugler, President Joe Biden’s pick to fill the only vacant seat on the seven-member Fed Board.