Fed’s Bowman, with a term ending in January, is set to testify on a 14-year reappointment Wednesday before Senate Banking

The Federal Reserve Board’s community banking representative, Michelle Bowman, is scheduled to testify Wednesday before the Senate Banking Committee on her nomination to a 14-year term that would begin Feb. 1, 2020.

Bowman was initially nominated to the Fed Board April 16, 2018, by President Donald Trump to fill the remainder of a 14-year term that ends Jan. 31, 2020; she began serving that term just this past November. Trump nominated her again this April to a full term. If confirmed, she would be able to remain on the Fed Board through Jan. 31, 2034.

A former Kansas State Bank Commissioner, Bowman is the first Fed Board member to hold the designation as community bank representative. She is from a community banking family and is herself a former banker, the Fed has said.

Wednesday’s Senate Banking hearing is scheduled to begin at 10 a.m. ET and will be streamed live. Bowman will testify alongside a number of other individuals nominated as follows: Thomas Peter Feddo, of Virginia, to be an Assistant Secretary of the Treasury for Investment Security; Nazak Nikakhtar, of Maryland, to be Under Secretary of Commerce for Industry and Security; Ian Paul Steff, of Indiana, to be Assistant Secretary of Commerce and Director General of the United States and Foreign Commercial Service; Paul Shmotolokha, of Washington, to be First Vice President of the Export-Import Bank of the United States; and Allison Herren Lee, of Colorado, to be a member of the Securities and Exchange Commission.

June 5 Senate Banking Committee hearing

RR: White House sends Bowman nomination to Senate for additional Fed Board term, ending in 2034 (April 4, 2019)

Be the first to comment

Leave a Reply

Your email address will not be published.