Washington • The Senate has confirmed President Donald Trump’s nomination of Randal Quarles to serve on the Federal Reserve, the first step in the Republican’s efforts to remake the nation’s powerful central bank.
Quarles, the head of a Salt Lake City-based investment firm, was approved on a 65-32 vote on Thursday. Senators, by a voice vote, then approved him to be vice chairman for supervision, a position that will give him critical input into GOP efforts to rollback what they see as the regulatory excesses of a 2010 law aimed at preventing a repeat of the 2008 financial crisis.