Confirmations

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"Confirmations"

Good piece by Sewell Chan on the many vacancies for important economic policy jobs:

For example, the Federal Reserve’s board of governors, which is considering additional steps to prop up the flagging recovery, has just four of its full complement of seven members. The Senate has yet to confirm three candidates Mr. Obama nominated in April to fill the vacancies. […]

Other jobs already exist but have not been permanently filled.

They include director of the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac and will be pivotal in shaping the future of homeownership policy, and comptroller of the currency, a position that dates to the Civil War and that supervises nationally chartered banks, including Bank of America and Citigroup.

As Chan points out, the Dodd-Frank bill is creating a bunch of new positions that will also need to be filled, now under an even more politically difficult climate. There’s blame to go around on this. Republicans have been shamefully uncooperative, Senate Democrats have been a bit lazy about breaking their uncooperation, and the White House at times has seemed to not see the urgency of nominating people quickly and drawing some attention to the importance of filling these slots.

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