Senate Confirms Phillips to Fed Seat

WASHINGTON -- Susan Phillips won Senate confirmation to the Federal Reserve Board by a voice vote late Thursday.

Ms. Phillips had breezed through the Senate Banking Committee a day earlier in the same session in which Robert Clarke was voted out as comptroller of the currency.

She was nominated by President Bush last month to fill the Fed seat vacated by Martha Seger. Her term runs until 1998.

Ms. Phillips, 42, was most recently an administrator and finance professor at the University of Iowa and was chairman of the Commodity Futures Trading Commission from 1983 to 1987.

At the Thursday hearing, the Senate also confirmed David Bradford and Paul Wonnacott to the President's Council of Economic Advisers.

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