US Senate Approves Lael Brainard Fed Vice Chair Nomination

[Image source=Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] Lael Brainard, the nominee for Vice Chair of the U.S. Federal Reserve (Fed), was confirmed by the U.S. Senate on the 26th (local time).

According to CNBC, the confirmation vote for Vice Chair Brainard was 52 in favor and 43 against. The bill passed with 4 votes in favor from the opposition Republican Party.

Brainard is considered a representative dove, but she has recently made remarks expressing concern about inflation in the U.S., so no new changes are expected in the Fed's tightening stance going forward. Earlier this month, she identified inflation as the Fed's top priority and hinted at interest rate hikes and balance sheet reduction policies at the May Federal Open Market Committee (FOMC) meeting.

Following Brainard, confirmation votes for Fed Chair Jerome Powell, Philip Jefferson, Lisa Cook, and other senior Fed officials are expected to be held as early as this week.

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