U.S. Senate banking committee to vote on Fed nominees on Feb. 15

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FILE PHOTO: The Federal Reserve building is seen in Washington, DC

– The U.S. Senate banking committee will hold a vote on advancing the nominations of a slate of nominees to the Federal Reserve on Tuesday Feb. 15, it said on Friday.

Fed Chair Jerome Powell, who is up for renomination to his post, is set to be easily confirmed. The other nominees are Lael Brainard, Sarah Bloom Raskin, Lisa Cook and Philip Jefferson.

Brainard, up for promotion to vice chair of the central bank, is already a Fed governor while Bloom Raskin, if confirmed by the full Senate, would become the Fed’s Wall Street regulator.

Lisa Cook and Philip Jefferson are both Black economists whose addition to the currently all-white Fed Board would make it the most racially diverse in the central bank’s 108-year history.

The hearing is set for 2.15 pm EST.

(Reporting by Lindsay Dunsmuir; Editing by Chizu Nomiyama)