Senate Confirms 2 Stalled Obama Fed Nominees

Law360, New York (May 17, 2012, 2:37 PM EDT) -- The U.S. Senate on Thursday voted to confirm President Barack Obama's long-stalled nominees to sit on the Board of Governors of the Federal Reserve, meaning that the central bank's board will be fully staffed for the first time since 2006.

Dr. Jeremy Stein, a Harvard University economics professor who served in the Obama administration, and Jerome Powell, an investment banker and lawyer who served in the U.S. Department of the Treasury under President George H.W. Bush, were confirmed with strong bipartisan support. Stein's confirmation came by...
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