Biden’s 3 Federal Reserve nominees appear likely to win Senate approval

BY CHRISTOPHER RUGABER and KEN SWEET
AP Economics Writer

WASHINGTON (AP) — President Joe Biden’s three nominees for the Federal Reserve’s Board of Governors pledged to fight inflation during a confirmation hearing that drew only modest pushback from Republican members of the Senate Banking Committee. Last month, Biden nominated Adriana Kugler, a Georgetown University economist, to serve as a Fed governor, a position that would make her the first Latina governor in the Fed’s 110-year history. He also nominated Philip Jefferson, who joined the board last year, for the spot of vice chair, which was vacated by Lael Brainard when she became a top economic adviser to Biden. Also in May, Biden nominated Lisa Cook to serve a full 14-year term on the board.