Republicans Plan Boycott of Banking Committee Vote on Fed Nominees

Republicans on the Senate Banking Committee plan to boycott a meeting scheduled for Tuesday afternoon to vote on President Joe Biden's slate of nominees to the U.S. Federal Reserve, a person familiar with the matter said, a move that could delay their consideration by the full Senate.

Republicans plan not to attend a meeting scheduled for 2:15 p.m. (1915 GMT) scheduled by committee Chairman Sherrod Brown to vote on the five nominees to the Fed's Board of Governors, including whether to recommend Jerome Powell for a second term as the central bank's chair, the person said.

While most Republicans on the panel back Powell, they appear unified in their objection to Sarah Bloom Raskin's nomination as vice chair for supervision, the top U.S. banking regulatory role.