FILE PHOTO: Federal Reserve Chair Jerome Powell testifies during the Senate Banking Committee hearing titled “The Semiannual Monetary Policy Report to the Congress”, in Washington, U.S., March 3, 2022. Tom Williams/Pool via REUTERS/File Photo

March 16, 2022

(Reuters) – A key Senate panel late Wednesday gave its stamp of approval to President Joe Biden’s renomination of Federal Reserve Chair Jerome Powell and two other nominees to the Fed Board but were deadlocked on a fourth nominee.

The vote came a day after Sarah Bloom Raskin on Tuesday withdrew as Biden’s nominee to become the top bank regulator at the Fed after a key Democratic senator and moderate Republicans said they would not back her, leaving no path to confirmation by the full Senate.

(Reporting by Dan Burns and Ann Saphir; Editing by Shri Navaratnam)

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