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Biden's 3 Federal Reserve nominees appear likely to win Senate approval
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Philip Nathan Jefferson of North Carolina, speaks during the Senate Banking, Housing, and Urban Affairs Committee hearing to examine his nomination to be Vice Chairman of the Board of Governors of the Federal Reserve System, Wednesday, June 21, 2023, on Capitol Hill in Washington. - photo by AP Photo/Mariam Zuhaib
WASHINGTON (AP) — President Joe Biden's three nominees for the Federal Reserve's Board of Governors pledged to fight inflation during a confirmation hearing Wednesday 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 to serve on the board 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.