Two vacancies at FOMC remain unfilled
The never-ending gridlock in the US political system grabbed headlines because of the Supreme Court this year but similar drama has unfolded at the Federal Reserve.
Two Fed governor slots remain vacant and there has been no progress to fill them.
Obama nominated former Bank of Hawaii CEO Allan Landon to one of the slots in January 2015 -- 15 months ago -- and Congress has refused to hold a hearing. University of Michigan economist Kathryn Dominguez was nominated last July and also continues to wait.
Dominguez
Republican Senate Banking Committee chairman Richard Shelby said he won't schedule the hearings because Obama has not appointed a vice chair for supervision at the Federal Reserve, a position that was created by the Dodd-Frank financial reform law and has never been filled.
Obama has never offered a reason for failing to nominate someone to the position.
At this point, no one is holding out hope that the candidates will be confirmed before the US election.
