Senate gives thumbs up to Jefferson as Fed vice chair on 88-10 vote

Phillip N. Jefferson was confirmed as the next vice chair of the Federal Reserve Wednesday by a Senate vote of 88-10. He replaces former Fed Gov. Lael Brainard in the role; Brainard resigned in February to become chair of the White House National Economic Council (NEC).

Jefferson was confirmed to fill the vice chair’s term that ends in 2027; his term as a Fed governor ends in 2036.

Senate votes are pending for confirmations of other Fed nominations: Lisa DeNell Cook for a full 14-year term as a member of the Fed Board, and Adriana Kugler to join the board. If confirmed, both would serve terms ending in 2037.