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Senate approves full term for Fed's Bowman

Kitco News

WASHINGTON (Reuters) - The U.S. Senate voted on Thursday to confirm Federal Reserve Governor Michelle Bowman to a full 14-year term.

Bowman’s current term had been set to expire in January. The Senate voted to confirm her to a full term by a vote of 60 to 31.

A former Kansas state banking regulator, Bowman had been originally nominated by President Donald Trump to fill a seat on the Federal Reserve Board of Governors reserved for someone with community banking experience.

She first joined the Fed in November to complete an unfinished term previously held by Vice Chair Stanley Fischer. Trump nominated Bowman for a full term of her own in April.

She can now serve at the Fed until 2034, although Fed governors frequently leave those posts before their full terms expire.

While at the Fed, Bowman has been a steady supporter of the policy consensus, voting in favor of all interest rate decisions put forward by the Federal Open Market Committee.

Reporting by Pete Schroeder; Additional reporting by Lindsay Dunsmuir; Editing by Alistair Bell

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