Senate confirms Liang as Treasury’s top domestic finance official

Nellie Liang was confirmed by the Senate Thursday as Treasury under secretary for domestic finance – responsible for policy on financial institutions, financial markets, and more – with nearly three-fourths of the Senate voting in favor.

Liang had been nominated to the Federal Reserve Board by former President Donald Trump, but the nomination was never taken up by the Senate Banking Committee or the full Senate. Votes this week on her nomination to the Treasury post, issued by President Joe Biden this April, included Wednesday’s bipartisan, 72-27 vote in favor of invoking cloture (limiting debate) and Thursday’s vote of 72-27 to confirm.

Liang has served as a senior fellow in economic studies at the Brookings Institution in Washington and a visiting scholar at the International Monetary Fund’s (IMF) monetary and capital markets department, according to the White House. She recently served as a member of the Congressional Budget Office’s (CBO) panel of economic advisors.

She has also served as a staff member at the Federal Reserve, as director of the division of financial stability, and was a lecturer at the Yale School of Management, according to the White House.

Liang earned her B.A. in economics from the University of Notre Dame and Ph.D. from the University of Maryland, the White House said.