People: US Senate committee approves two Fed governors

US Federal Reserve building

US: The Senate banking committee approved the nominations of two new members of the Federal Open Market Committee (FOMC) on June 12. Both candidates still need to be confirmed by the full Senate.

Richard Clarida, proposed by president Donald Trump in April to become the new vice-chairman of the Federal Reserve, obtained the support of 20 senators and was rejected by five. Clarida is a professor of economics at Columbia University, and served as assistant Treasury secretary for economic policy

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