Politics & MoneyMortgage

Senate approves Fed vice chairman nominee

The Senate approved Stanley Fischer’s nomination to the Federal Reserve Board of Governors, according to an article in Reuters.

A separate vote that is still unscheduled must be held to confirm his appointment as vice chairman of the U.S. central bank.  

Back in February, banking regulators grilled Fischer on his possible nomination.

"We should examine what Mr. Fischer learned from his time on Wall Street and how he would apply this experience to his new job," said Sen. Sherrod Brown, an Ohio Democrat. "Some of the best watchdogs have come from industry, while others have been lap dogs. We must do all that we can to ensure that our regulators will work to protect the public and break Washington's long-held bias towards Wall Street."

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