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The
Senate is scheduled to hold a final confirmation vote Tuesday at
2:15 pm ET (1815 GMT) on Brainard, a current Fed governor.
Eight Republicans joined Democrats in voting 54-40 Monday to end
debate on Brainard's nomination. A cloture vote on a second Fed
nominee, Michigan State University's Lisa Cook, could come on
Tuesday.
The Senate is also expected to schedule confirmation votes this
week for Fed Chair Jerome Powell, renominated to his current
position, and Davidson College dean of faculty Philip Jefferson,
nominated to a vacant seat on the Board. Both are expected to
win bipartisan support.
At its policy meeting next week the Fed is widely anticipated to
deliver a half percentage point interest rate hike and announce
the start of a reduction in its giant balance sheet as it ramps
up its fight against 40-year high inflation.
Cook and Jefferson would likely join after that meeting, taking
part in deliberations over what are expected to be interest-rate
hikes at every subsequent Fed meeting this year and into at
least the first part of next year.
Cook would be the first Black woman to serve on what is
currently an all-white Fed Board, and Jefferson would be the
fourth Black man to serve in the central bank's more than
100-year history.
(Reporting by David Morgan, Richard Cowan, and Ann Saphir;
Editing by Leslie Adler and Aurora Ellis)
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