MNI BRIEF: Senate Confirms Bowman As New Fed VC For Regulation

The U.S. Senate Wednesday confirmed Federal Reserve Governor Michelle Bowman as the central bank's new vice chair for supervision in a narrow 48-46 vote along party lines with six abstentions. 

Bowman will now play a crucial role as the Fed's leading supervisor, helping to direct everything from setting rules for how major banks operate to monitoring risks across the financial system to ensure a safe and stable environment.