Bowman confirmed to Fed seat

Kansas banking regulator Michelle Bowman has been confirmed to a seat on the Federal Reserve Board of Governors.

With the Senate confirmation, Bowman fills one of three vacancies on the board, bringing the total members to five for the first time in more than a year. Remaining nominees Nellie Liang, a former Fed staff economist, and Carnegie Mellon University professor Marvin Goodfriend, still await confirmation.

Bowman’s presence satisfies a clause added to the Federal Reserve Act in 2015 requiring the Fed’s leadership include at least one governor with community banking experience. [Continue]