Nominee For Fed Seat No Longer A Shoo-in

Marvin Goodfriend, President Donald Trump's nominee for a Federal Reserve Board seat, was expected to coast to his confirmation in the Republican-controlled Senate. After a rocky hearing last month before lawmakers, that's now in doubt. The Senate Banking Committee has scheduled a vote on Goodfriend's nomination for Thursday. Though approval at this stage is likely, a final decision by the full chamber appears too close to call, with opponents on the left and right lobbying against his confirmation. "He had a dreadful hearing, and there is a contingent of the Republican party that loathes the Federal Reserve more than it likes the White House," said Isaac Boltansky, an analyst at Compass Point Research & Trading in Washington.

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