Senate panel approves Kroszner, Warsh to Fed

The Senate Banking Committee on Thursday 16 February approved the nominations of Randall Kroszner and Kevin Warsh to be members of the Federal Reserve's board of governors.

The Committee also approved Edward Lazear to become chairman of the White House Council of Economic Advisers. This is the post new Fed Chairman Ben Bernanke held before he took over the Fed from Alan Greenspan on 1 February.

President Bush's choices of Kroszner and Warsh are expected to be approved by the full Senate, with t