Trump's Fed pick Waller to get confirmation vote Thursday

FILE PHOTO: The Federal Reserve building is set against a blue sky, amid the coronavirus disease (COVID-19) outbreak, in Washington, U.S., May 1, 2020. REUTERS/Kevin Lamarque

(Reuters) – St. Louis Federal Reserve Bank research director Christopher Waller moved a step closer on Wednesday toward a seat on the U.S. Federal Reserve after a procedural move in the U.S. Senate cleared the way for a final vote on his nomination on Thursday.

Senators voted 50-45 to end debate on outgoing President Donald Trump’s nominee for one of two vacant seats at the Fed. A confirmation on Thursday could leave enough time for Waller to be sworn in before the U.S. central bank’s next policy-setting meeting in mid-December.

A similar procedural vote last month for a second Fed nominee, Trump former economic adviser Judy Shelton, failed to win enough support from the Republican majority in the Senate, and no new vote is scheduled.

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