Daniel K. Tarullo was sworn in Wednesday as a Federal Reserve Board member.
His term will expire in January 2022.
The Senate confirmed the former Georgetown University law professor and campaign adviser to President Obama late Tuesday in a 96-1 vote. Sen. Jim Bunning, R-Ky., cast the lone "no" vote.
Mr. Tarullo held several positions in the Clinton administration, first as an assistant secretary of state for economic and business affairs from 1993 to 1998. He was also on the National Economic Council and the National Security Council, and he was President Clinton's representative to the Group of Eight body of industrialized nations.
The seven-member Fed board still has two openings.