WASHINGTON-The Senate Banking, Housing, and Urban Affairs Committee approved two nominations for the Federal Reserve Board of Governors and forwarded them on to the full Senate. The vote was 20-1 with Senator Jim Bunning (R-Ky.) casting the sole "no" vote. Ben S. Bernanke, of New Jersey, was approved by the committee to sit on the Board of Governors of the Federal Reserve System for the unexpired term of 14 years from February 1, 1990; and Donald L. Kohn, of Virginia, to be a member of the Board of Governors of the Federal Reserve System for a term of 14 years from February 1, 2002. Senate Banking Committee Chairman Paul Sarbanes (D-Md.) indicated that he would seek to have them approved by the full Senate before the August recess.
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