Jefferson Confirmed by Senate as Federal Reserve Governor

The US Senate confirmed economist Philip Jefferson as a Federal Reserve governor on Wednesday evening, adding a third nominee of President Joe Biden to the central bank’s board.

The vote was 91 to 7.

During his confirmation hearing, Jefferson’s experience and commitment to follow the Fed’s limited mandates had earned Republican plaudits, while Democrats have praised his research on poverty and the diversity he’ll add to the board. He was the only Biden Fed nominee to win unanimous backing from the Banking Committee.

Philip Jefferson

Photographer: Ken Cedeno/Reuters/Bloomberg

The Senate is expected to act as soon as Thursday to confirm Jerome Powell to a …