The Senate on Thursday confirmed the nomination of Christopher J. Waller to the Federal Reserve board of governors in a 48-47 vote.
Mr. Waller, executive vice president and director of research at the Federal Reserve Bank of St. Louis, will serve the remainder of a 14-year term that was never filled and expires Jan. 31, 2030.
Forty-six Democrats voted Thursday against his nomination and were joined by Republican Rand Paul of Kentucky. However, the rest of the Republican caucus in attendance voted in favor of Mr. Waller, which was enough for approval.
Though confirmed by a slim margin, Mr. Waller was seen as the less controversial nominee to the Fed board. In January, President Donald Trump nominated Mr. Waller and Judy Shelton, the U.S. executive director of the European Bank for Reconstruction and Development who previously served as an economic adviser to Mr. Trump's 2016 presidential campaign, to the board simultaneously.
Ms. Shelton's nomination was blocked in the Senate last month and is unlikely to move forward as the congressional session winds down. Though Republicans currently hold a 52-48 majority in the Senate, three Republicans — Susan Collins of Maine, Mitt Romney of Utah and Lamar Alexander of Tennessee — have come out against her nomination.
During the nomination process she faced tough questions about her past writings, among other things, advocating for a return to the gold standard and higher interest rates, positions she no longer holds.
Mr. Waller will fill one of the two vacancies on the seven-member Fed board. Mr. Trump has now nominated five of the board's six members, including elevating Chairman Jerome Powell.