The Senate voted Thursday afternoon to confirm Trump nominee Michelle Bowman to a position on the Federal Reserve’s Board of Governors.
The upper chamber voted 64 to 34 to install Bowman, the state bank commissioner for Kansas, in a seat designated for a community banking expert. Sen. Rand Paul of Kentucky was the lone Republican to vote against the nomination, while 13 Democrats voted in favor.
With confirmation, Bowman is the fifth governor on the understaffed board. The term for the seat she now occupies expires in 2020.
Bowman, a former staffer for retired Sen. Bob Dole, R-Kan., as well as a former counsel to multiple committees in the U.S. House of Representatives, also served in the George W. Bush administration in the Federal Emergency Management Agency and the Department of Homeland Security.
State bank associations, community bankers, and state bank regulators were especially supportive of Bowman’s nomination. Bowman will be the first to hold the seat set aside for someone with community banking experience.
“As a fifth-generation community banker with experience at the state and federal levels, Miki Bowman is ideally suited for the Fed’s community banking seat,” said Rebeca Romero Rainey, the head of the Independent Community Bankers of America. “We look forward to working with her on pressing regulatory issues facing community banks and the communities they serve.”
“Ms. Bowman’s diverse professional experience, seasoned judgment, and insight into the financial, rural, and agricultural economies will diversify the Board and strengthen its deliberations, rulemaking, and open market operations,” wrote 43 state bank associations in a letter sent to the Senate Wednesday.
The Fed remains two members short of a full board of governors. President Trump nominated Marvin Goodfriend and Nellie Liang to fill those positions, but a handful of Senate Republicans may oppose their nominations. It’s unclear when the Senate may consider confirming their nominations.
