Trump to Nominate Powell as Fed Chief Again After Senate Adjourns Without Vote -- Update

By FeaturesDow Jones Newswires

President Donald Trump plans to nominate Jerome Powell again in the new year to serve as Federal Reserve chairman after the Senate ended its 2017 session this week without voting on the matter, White House spokeswoman Natalie Strom said.

Nominees pending at the end of a session have to be resubmitted by the White House in the new session unless all senators agreed to have them carried over. Mr. Powell's is among dozens of nominations that will have to be submitted again. Also on the list is Marvin Goodfriend, nominated to serve on the Fed's board of governors.

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Mr. Trump in November nominated Mr. Powell, a Fed governor since 2012, to succeed Chairwoman Janet Yellen when her term as Fed chief expires in early February.

The Senate Banking Committee advanced Mr. Powell's nomination Dec. 5 on a 22-1 vote, which suggests he likely wouldn't face much opposition in a new vote. Sen. Elizabeth Warren (D., Mass.) cast the lone vote against him.

Mr. Trump nominated Mr. Goodfriend on Nov. 29, but the committee hasn't voted on the matter.

Write to David Harrison at david.harrison@wsj.com and Andrew Ackerman at andrew.ackerman@wsj.com

(END) Dow Jones Newswires

December 22, 2017 13:51 ET (18:51 GMT)