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Dec. 3, 2020, 12:14 p.m. EST

Senate approves Waller to be new Fed board member

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By Jonathan Nicholson

The U.S. Senate on Thursday confirmed Christopher Waller of the St. Louis Federal Reserve Bank for a slot on the central bank’s board of governors.

The vote was 48 to 47. Waller’s confirmation had been expected, after the vote Wednesday to close debate on it was 50 to 45.

Waller, director of research at the St. Louis Fed, was also seen as a traditional Fed pick, in contrast with Judy Shelton, another Trump pick who ran into problems because of her past statements about the gold standard.

Shelton’s nomination, which Senate Majority Leader Mitch McConnell tried unsuccessfully to advance in mid-November, is effectively dead, given opposition by some Republican senators and the replacement Wednesday of Republican Martha McSally by Democrat Mark Kelly as an Arizona senator. The changeover leaves Republicans with a 52-48 edge in the Senate until the new Congress is sworn in in January.

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