The Senate on Thursday confirmed Nellie Liang as the Treasury Department's undersecretary for domestic finance in a 72-27 vote.
Ms. Liang, whom President Joe Biden nominated in March, was most recently a senior fellow in economic studies at the Brookings Institution and a visiting scholar at the International Monetary Fund's monetary and capital markets department. She also worked at the Federal Reserve over three decades, including serving from 2010 to 2017 as the first director of the Office of Financial Stability Policy and Research, which became the Division of Financial Stability in 2016.
Treasury's domestic finance office develops policies and guidance for the department's activities in the areas of financial institutions, federal debt finance, financial regulation and capital markets.
At a confirmation hearing before the Senate Finance Committee in May, Ms. Liang told lawmakers that if confirmed she would aim to "promote an efficient and stable financial system that can meet the needs of a dynamic economy."
In 2018, President Donald Trump nominated Ms. Liang to a seat on the Federal Reserve Board of Governors, but she withdrew her nomination from consideration in early 2019. In a statement at the time, she said "the likelihood of a prolonged process could have left me in professional limbo for too long."