Jerome H. Powell and Jeremy C. Stein, President Barack Obama's nominees to the Federal Reserve Board of Governors, were approved Thursday by the Senate.
Mr. Powell, a visiting scholar at the Bipartisan Policy Center in Washington, is a former partner at the Carlyle Group, where he managed private equity funds from 1997 to 2005. He was approved by a 74-21 vote.
Mr. Stein is the Moise Y. Safra professor of economics at Harvard University. Senators approved Mr. Stein by a 70-24 vote.
The seats had been vacant since 2008, when Frederic Mishkin left, and 2011, when Kevin Warsh resigned. Once Messrs. Powell and Stein are sworn in, the board will have all seven members in place.
