FOR IMMEDIATE RELEASE:

CONTACT: Jesse Jacobs - 202-224-4524
Thursday, August 1, 2002

Craig Davis - 202-224-7391


SENATE APPROVES TWO NOMINEES FOR
FEDERAL RESERVE BOARD OF GOVERNORS

Senator Paul S. Sarbanes (D-MD), Chairman of the Banking, Housing, and Urban Affairs Committee, announced that the full Senate last night approved by voice vote the two pending nominations for the Federal Reserve Board of Governors.

Yesterday's prompt action by the full Senate followed a nominations hearing for the two on Tuesday, July 30, and Banking Committee approval, by a vote of 20-1, on July 31.

The Senate approved the following nominations:

  • Mr. Ben S. Bernanke, of New Jersey, to be a Member of the Board of Governors of the Federal Reserve System for the unexpired term of fourteen years from February 1, 1990; and


  • Mr. Donald L. Kohn, of Virginia, to be a member of the Board of Governors of the Federal Reserve System for a term of fourteen years from February 1, 2002.

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