Cook’s nomination for Fed Board could be considered this week; no word yet on Powell, Jefferson

Confirmation of a new Federal Reserve Board member could be considered this week by the Senate if the nomination clears a procedural vote, according to the Senate’s schedule for the week.

The nomination of Lisa DeNell Cook as a member of the Fed Board for the remainder of a 14-year term that began Feb. 1, 2010 (that is, until 2024) could be considered by the Senate if the nomination clears a cloture vote, cutting off debate. If that occurs, her nomination will proceed to the Senate for a final vote on confirmation.

Cook’s nomination had been scheduled for Senate consideration a week ago. However, Senate Democrats, at the time, lacked a majority as two senators – and the vice president – tested positive for COVID-19, and thus could not be present to vote. Republicans, who held the majority, attempted to hold a cloture vote and then reject the nomination outright. Ultimately, that tactic failed.

Meanwhile, the Senate has yet to schedule a confirmation vote on the nominations of Jerome H. (“Jay”) Powell for a second term as Fed chair, and Philip N. Jefferson, as a Fed Board member nominated to a 14-year term that would expire in January 2036.