Sherrod Brown

Goodfriend's nomination to Fed approved by Senate committee

President Donald Trump's nomination of Marvin Goodfriend for a seat on the Federal Reserve board has been narrowly approved by a Senate committee on a straight party-line vote.

The Senate Banking Committee voted 13-12 on Thursday to approve Goodfriend's nomination to the seven-member Fed board. Only Republicans supported the nomination. All Democrats opposed it. The closeness of the vote indicates that Goodfriend, an economics professor at Carnegie Mellon University, could face significant opposition when his nomination goes before the full Senate where Republicans have a one-vote majority.

Sen. Sherrod Brown of Ohio, the top Democrat on the committee, said Goodfriend's past...