The Senate confirmed economist Christopher Waller as Federal Reserve governor. Waller was confirmed in a 48-47 near-party line vote with Senator Rand Paul being the sole Republican to split from his party.
- Waller will serve on the Federal Reserve until 2030, and he received the fewest votes of any nominee since the 1980s.
- While no Democrat voted to confirm Waller on Thursday, five out of 12 voted in July to advance his nomination out of the Senate Banking Committee.
- Even though Waller has been confirmed, it is now looking less likely that Judy Shelton - another Trump nominee - will be confirmed, now that Democratic Senator Mark Kelly has been sworn in, reducing the GOP's majority in the Senate to 52-48.
- Shelton's nomination has been opposed by Democrats and Republicans due to her unorthodox views. She has advocated for returning to the gold standard, a viewpoint most economists have disregarded. She has also changed her opinion on interest rates depending on which party controls the White House.
- Shelton is the latest Trump Fed nominee to fall short of confirmation. He previously considered nominating allies Stephen Moore and Herman Cain, but was unsuccessful.