The US Senate has confirmed Richard Clarida as the new vice-chairman of the Federal Reserve under chair Jerome Powell.
Clarida obtained bipartisan support, as 23 Democratic senators supported his confirmation. Overall, the new member of the Federal Open Market Committee secured 69 votes in favour, while 26 senators rejected his appointment and four abstained.
In April, US president Donald Trump nominated Clarida to replace Stanley Fischer as the Fed’s vice-chair. Fischer announced his