Elizabeth Warren

Senate committee approves nomination of Powell for Fed chair

The Senate Banking Committee has voted for a second time to approve President Donald Trump's nomination of Jerome Powell to be the next chairman of the Federal Reserve.

The approval Wednesday was by voice vote, with Sen. Elizabeth Warren, D-Massachusetts, voting no. The re-vote was needed because the full Senate did not take up Powell's nomination last year. The term of current Fed Chair Janet Yellen ends on Feb. 3.

The committee also approved Fed board member Randal Quarles for a full 14-year term on the Fed board. He won approval last year for an unexpired term which ends on Jan. 31. His nomination was also approved by voice vote, with Warren and Sens. Jack Reed, D-Rhode...

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