{"id":2023368,"date":"2023-09-06T12:54:01","date_gmt":"2023-09-06T16:54:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/philip-jefferson-confirmed-as-vice-chairman-of-the-fed-as-it-tries-to-bring-down-inflation\/"},"modified":"2023-09-06T12:57:22","modified_gmt":"2023-09-06T16:57:22","slug":"philip-jefferson-confirmed-as-vice-chairman-of-the-fed-as-it-tries-to-bring-down-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/philip-jefferson-confirmed-as-vice-chairman-of-the-fed-as-it-tries-to-bring-down-inflation\/","title":{"rendered":"Philip Jefferson appointed as Fed&#8217;s vice chairman in efforts to combat inflation."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fphilip-jefferson-confirmed-as-vice-chairman-of-the-fed-as-it-tries-to-bring-down-inflation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2023368&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>The Senate Approves \u2063Philip Jefferson as Vice\u2063 Chairman of the\u200b Federal Reserve Board<\/h2>\n<p>The \u200dSenate, in a wide bipartisan vote,\u2062 has \u2063approved \u2064the nomination of Philip Jefferson to serve as <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economists-push-for-another-round-of-stimulus-checks\/\" title=\"Economists Push for Another Round of Stimulus Checks\">vice chairman<\/a> of the Federal Reserve Board of Governors.<\/p>\n<p>Jefferson, 61, has been a member of\u2062 the Board of Governors since \u2062May of last year and garnered \u2062significant bipartisan support during \u2062his initial \u2062confirmation process. \u200dHis nomination\u200d received an impressive 88-10 vote,\u200c with \u200bopposition only from Republicans.<\/p>\n<p>In July, Jefferson received a unanimous vote to advance from the Senate Banking\u200d Committee to the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senate-committee-splits-along-party-lines-on-bidens-land-management-nominee-amid-tree-spiking-scandal\/\" title=\"Senate Committee Splits Along Party Lines On Biden\u2019s Land Management Nominee Amid Tree-Spiking Scandal\">full chamber<\/a>.<\/p>\n<h3>Jefferson&#8217;s\u200d Role\u200c and\u200b Responsibilities<\/h3>\n<p>As the No. 2 in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/brent-oil-hovers-over-80-as-inflation-worries-ease\/\" title=\"Brent oil stays above  as inflation concerns ease.\">central\u2063 bank<\/a>, Jefferson will work closely with \u2063Fed Chairman Jerome Powell to \u200densure that monetary\u2063 policy and Fed decisions align with the central bank&#8217;s dual mandate of promoting maximum \u200bemployment\u2062 and price stability. The\u2064 latter has become a crucial focus as\u2064 inflation \u2063impacts the economy and\u200b <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/philip-jefferson-confirmed-as-vice-chairman-of-the-fed-as-it-tries-to-bring-down-inflation\/\" title=\"Philip Jefferson appointed as Fed's vice chairman in efforts to combat inflation.\">diminishes families&#8217; purchasing power<\/a>.<\/p>\n<h2>Upcoming Votes\u200b on \u2063President Biden&#8217;s Fed Nominees<\/h2>\n<p>Later today, the Fed is\u200c scheduled to vote on two other nominees for President Joe \u2062Biden&#8217;s administration, both\u2064 of whom are more controversial \u200dand politically divisive than Jefferson.<\/p>\n<p>The full Senate will vote on\u2064 the nominations of Lisa Cook and \u200dAdriana\u2064 Kugler,\u2064 both to serve terms on\u2064 the Board of Governors. The votes are expected to largely\u2064 follow party lines,\u2063 as \u200cboth nominees were approved by the\u2064 Banking Committee in 13-10 votes. All Republicans, except for Sen.\u200d Mike\u2063 Rounds (R-SD), voted against the two \u200dnominees.<\/p>\n<p>Cook has already served on the Board of Governors for just over a year. \u2062During her previous confirmation, she\u200d faced questions from GOP lawmakers\u2063 regarding perceptions of partisanship and her lack of experience \u200dworking with monetary policy.<\/p>\n<p>Kugler\u200b currently serves as the executive director of the World Bank, a position\u2063 she has held since May 2022.<\/p>\n<h3>Senators&#8217; \u200cStatements on \u2062the Nominees<\/h3>\n<p>After the three nominees were voted out \u2063of committee, Sen.\u2064 Tim Scott \u200d(R-SC), the committee&#8217;s ranking\u2062 member, highlighted the \u200cdifference in support between the vote for Jefferson and the votes \u2063for Cook and\u200d Kugler. \u200cScott emphasized \u2062the importance of presidential nominees inspiring confidence, respecting the rule of law, and \u200csupporting policies that\u2064 promote the American dream.<\/p>\n<p>Meanwhile, Sen. Sherrod Brown (D-OH), the committee&#8217;s chairman, praised all three\u2063 nominees. In a statement from July, he commended \u2063their &#8220;historic&#8221; nominations\u2063 and noted the support they have received from a diverse range of groups and organizations.<\/p>\n<p>As \u2064lawmakers return to Capitol\u200d Hill with a \u2063ticking clock \u200dand a hefty to-do list, the confirmation of these nominees will \u2062play a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/haley-says-shes-open-to-labeling-china-a-currency-manipulator\/\" title=\"Haley open to labeling China as currency manipulator.\">significant \u200brole<\/a> \u200cin shaping the\u2062 future of \u2063the Federal\u2063 Reserve and its policies.<\/p>\n<p><strong>Click\u200b here to read more from The Washington Examiner.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>as vice chairman of the Federal Reserve Board of Governors, Philip Jefferson, was approved by the Senate in a bipartisan vote. Jefferson, 61, has been a board member since May last year and gained broad bipartisan backing during his initial confirmation.<\/p>\n","protected":false},"author":1,"featured_media":2023369,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2023368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2023368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2023368"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2023368\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2023369"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2023368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2023368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2023368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}