Brainard, who had served on the Fed Board since 2014, ascended to her new position with 52 votes for and 43 against, with the support of seven Republicans.
The upper house of the US Congress, however, was unable to hold a final vote on Cook’s nomination because of Republican opposition and the absence of two Democratic senators and Vice President Kamala Harris, who are with covid, which made it impossible for the party to make its advantage in the House effective.
Ohio Senator Sherrod Brown criticized the Republicans. “It is disappointing that Senate Republicans exploit the absences of our colleagues to put the brakes on [the nomination of] a qualified black woman,” he pointed out in a statement.
Brainard, who generally has a less aggressive stance when it comes to fighting inflation, now supports a series of interest rate hikes to try to reduce price increases, which have reached their highest in 40 years.
On the other hand, the post of Fed supervisory vice chairman remains uncertain after President Joe Biden’s candidate, Sarah Bloom Raskin, withdrew from the race with opposition from a key Democratic senator, who left her confirmation with little chance of prospering.