Separate hearings on the nominations of candidates for chair and vice chair of the Federal Reserve Board will be held Jan. 11 and 13, respectively, the Senate Banking Committee said Wednesday.
The hearing for Federal Reserve Board Chair Jerome H. (“Jay”) Powell gets underway at 10 a.m. on Jan. 11. His nomination hearing – for reappointment to a four-year term as chair of the central bank’s board – will include only Powell.
The second hearing, for Federal Reserve Board Member Lael Brainard, nominated to be vice chair of the board, will also be held at 10 a.m. on Jan. 13. The same hearing will also include consideration of the nomination of Sandra Thompson to be director of the Federal Housing Financing Agency (FHFA).
Powell is now reaching the end of a four-year term as Fed Board chair after being nominated by President Donald Trump (R) in 2017 and confirmed by the Senate in 2018. If confirmed for another term as Fed chair, Powell could hold that position until 2026. His term as a Fed Board member runs until January 2028.
Brainard, nominated by President Barack Obama (D) and confirmed by the Senate in June 2014, is now serving a term that ends Jan. 31, 2026. If confirmed as vice chair, her four-year term would end about the same time that her Fed Board term ends.