Christopher Waller Confirmed to serve on the Federal Reserve Board

Yahoo Finance's Jared Blikre joins that Yahoo Finance Live panel with the breaking news that the Senate has confirmed Christopher Waller to serve on the Federal Reserve Board.

Video Transcript

- I want to get some breaking news that we're getting out of Washington, DC, here on that front. We've been watching some of President Trump's picks to the Fed. And we've obviously covered how Judy Shelton's gone here with that one, not going the way that he wanted to see.

But breaking news, as his other nominee, Christopher Waller, winning approval from the US Senate just a few moments ago here. And the latest on that. I want to get to Yahoo Finance's Jared Blikre who joins us now. Jared?

JARED BLIKRE: That's right. The vote came down 48 to 47. So it was pretty close, largely on party lines here. And this is Trump's fourth pick that has made it into the Federal Reserve. Now Christopher Waller is currently Director of Research at the St. Louis Fed. And he has been a mentor to James Bullard and is responsible, it's said, for Bullard's view on inflation. And so you can characterize Waller as another dove. And so that's going to influence the decision-making at the Fed.

And you also made allusions to Judy Shelton. That nomination was just about killed a few weeks ago when a couple members of the Republican Senate came down with COVID. And then Kamala Harris drove into town at the last minute, nixed the vote. So she's probably out.

There still procedurally some possibility that she would be fifth-- the fifth in line for the Fed under Trump's regime. And pretty interesting, because she was considered a possible replacement for Jerome Powell should Trump have remained president, which, of course, he's not. So kind of a moot point there. But, again, fourth pick for the Fed by President Trump here. And Christopher Waller will ascend to that position probably in January.