The Senate recently voted 69-26 to confirm economic specialist Richard Clarida as vice chairman of the Federal Reserve Board of Governors.
Clarida is expected to favor Chairman Jerome Powell’s plan to continue to gradually raise interest rates. Banking advocacy groups have expressed support for Clarida, as well as another one of President Donald Trump’s Fed nominees who has yet to come up for a Senate vote.
Find out more about the new Fed vice chair and the industry’s thoughts on other pending nominations.