The Senate Banking Committee on Wednesday will vote to advance the re-nomination of Federal Reserve Chairman Jerome Powell, as well as three other individuals nominated by President Joe Biden to serve in top roles at the central bank. The vote will come a day after Sarah Bloom Raskin, Biden’s nominee as vice chair for supervision, withdrew her name from consideration. In addition to Powell, committee members will vote on the nominations of Lael Brainard for Fed vice chair, and Lisa Cook and Philip Jefferson for governors of the Fed. The Fed said Wednesday it would raise its benchmark interest rate by a a quarter percentage point and laid out plans for “ongoing increases in its policy rate.”
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