Hearing on nominees to US Fed set for 17 Oct

US - The U.S. Senate Banking Committee will hold a hearing on 17 October to consider two candidates for the Federal Reserve Board, a Senate aide said on Friday 12 October.

President George W. Bush has selected bankers Susan Bies and Mark Olson to fill two empty seats on the powerful Fed board, which forms the core of the central bank's interest-rate setting panel. Bies was chosen in June and Olson was picked in July. The two must be confirmed by the full Senate.

The hearing will be held at 9:30