Senate expected to wait to hold Fed nominee hearing: sources

Reuters News
Posted: Apr 09, 2015 12:09 PM

WASHINGTON (Reuters) - The Senate Banking Committee is expected to wait to hold a hearing for the nomination of a community banker to the Federal Reserve until the White House moves to fill the central bank's final open seat, according to people familiar with the matter.

The White House in January named Allan Landon, former chief executive of the Bank of Hawaii, as a nominee to fill the sixth of seven Fed board seats. At the time, Landon was viewed as a candidate who could win support from both Republicans and Democrats, given that the bulk of his career was spent as an executive at a small U.S. bank.

But the Senate Banking Committee has yet to call a hearing on his nomination and people familiar with the matter say Chairman Richard Shelby does not plan to schedule one until the White House nominates a seventh person to fill the board.

(Reporting by Emily Stephenson and Michael Flaherty; Editing by Bernadette Baum)