Senate Republicans threaten to delay vote on Fed nominees

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — The top Republican on the Senate Banking Committee said that his party’s members will boycott a vote by the panel scheduled for Tuesday afternoon on President Joe Biden’s nominees to the Federal Reserve, potentially delaying confirmation of a second term for Chair Jerome Powell, who is serving in an acting capacity. Democrats control the committee, but if no Republican attends the committee vote, the votes on all the Fed nominees would be delayed. The committee’s top Republican, Sen. Patrick Toomey, said his fellow Republicans want more information about one of the nominees, Sarah Bloom Raskin, involving her role on the board of a company that won a coveted Fed clearance after she joined the firm.