Newsroom
Fed, FHFA nominee votes postponed
Senate Banking Committee Chairman Sherrod Brown, D-Ohio, Tuesday announced a delay of panel votes on the Federal Reserve nominations for Jerome Powell to serve as Chair of the Federal Reserve and Sarah Bloom Raskin, former deputy Treasury secretary and Fed governor, to serve as the Vice Chairman for Supervision. The postponement was announced after the Committee failed to reach a quorum to vote on the nominees.
Votes on other Fed nominees including Drs. Lael Brainard, Lisa DeNell Cook and Phillip Nathan Jefferson, as well as Sandra Thompson to serve as the Federal Housing Finance Agency (FHFA) director, have also been delayed.
Senate Banking Committee Republicans called for additional information on Raskin’s previous employer before casting a vote. Senator Pat Toomey, R-Pa., stated that “until basic questions have been adequately addressed, I do not think the Committee should proceed with a vote on Ms. Raskin.”
Brown said he would try to reschedule a vote as soon as possible, saying that “any actions to delay this vote will hurt workers, their families and our recovery.”
NAFCU will remain alert on when the next vote will be announced and remain engaged with both the Fed and FHFA to ensure credit unions concerns are considered by both agencies.