Senate ends debate on Powell nomination ahead of likely confirmation

The Senate voted Tuesday afternoon to end debate on President Trump’s nomination of Federal Reserve Governor Jerome Powell to serve as the Fed’s next chairman ahead of his likely confirmation.

Senators voted 84-12 to advance Powell’s nomination to replace Fed Chairwoman Janet Yellen on Feb. 3. Powell, a moderate Republican in step with Yellen on most issues, will likely be confirmed when the Senate votes again at 5 p.m. on Tuesday.

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Most Republicans voting Tuesday approved Powell’s nomination. Democrats opposing Powell included potential 2020 presidential candidates such as Sens. Elizabeth Warren (Mass.), Kirsten Gillibrand (N.Y.), Cory Booker (N.J) and Kamala Harris (Calif.), along with Sens. Dianne Feinstein (Calif.), Jeff Merkley (Ore.) and Richard Blumenthal (Conn.).

Republicans opposing Powell included Sens. Ted Cruz (Texas) and Mike Lee (Utah). 

Trump nominated Powell to replace Yellen as chair in November. Powell had served on the Fed board since his appointment in 2012. The Senate Banking Committee approved Powell’s nomination by a near-unanimous vote in December, with only Warren opposing him.