US Senate confirms Lael Brainard as Fed vice chair

By Ovunc Kutlu

ANKARA (AA) - The US Senate on Tuesday confirmed Lael Brainard to be the Federal Reserve’s next vice chair.

Brainard was confirmed in a close 52-43 vote, as she gained the support of Democrats and a few Republicans.

Her confirmation has become the first among the rest of President Joe Biden's nominations for the Fed's Board of Governors, which also include Chair Jerome Powell, Philip Jefferson, and Lisa Cook.

Before becoming a member of the Board of Governors in June 2014, Brainard served as undersecretary of the Department of Treasury from 2010 to 2013.