New York, New York — (CNN) — President Donald Trump’s nominee to lead the Federal Reserve is expected to be formally nominated Wednesday in a key confirmation vote expected to include both Republicans and Democrats.
The confirmation vote is expected in the Senate Banking Committee, a committee that oversees the Federal Open Market Committee.
Senators will vote on James Kinley, who served as a Fed governor and was nominated by Republican Senator Sherrod Brown.
Kinley, a former Treasury secretary under President George W. Bush, has long been considered a potential candidate for the job.
He was the nominee for the role in 2015.
Kinsey is a partner at Kinley & Schleicher, a law firm with offices in Manhattan, Los Angeles and Washington, D.C.
Kinray’s nomination is likely to be the first major shakeup of the Federal Emergency Management Agency, or FEMA, which is chaired by Republican Republican Senator Rob Portman of Ohio.
The agency is a key agency for helping to coordinate and administer the government’s response to natural disasters, and has been under heavy criticism from Democrats and civil rights groups for its response to the 2016 deadly floods in the South.
Kinley also worked as a managing director at McKinsey & ; Platt in the 1990s.
“James Kinley is a seasoned and respected veteran of the federal government who will be a tremendous asset to the Fed,” Portman said in a statement.
Kinsey was nominated to serve as the top official in the Federal Housing Finance Agency (FHFA) by former President George H.W. Bush in 1988, and served as acting director until his nomination was confirmed by then-Sen. Bob Dole (R-Kan.).
He also worked at the US Trade Representative, the Department of Defense and the White House Office of Management and Budget.
The FHFA is responsible for overseeing mortgage-backed securities, which are used to finance foreclosures.
The FDIC is the regulator of Fannie Mae and Freddie Mac, the federally chartered savings and loan giants, which provide billions of dollars in federal loans to homeowners, especially those in lower-income neighborhoods.
The FHFC oversees the mortgage industry, including the largest federally backed mortgage-bond market, the National Housing Trust Fund.
A Treasury Department report found that between 2008 and 2013, the FDIC’s foreclosure rate dropped by nearly half, from a peak of 5.3 percent to 3.8 percent.
It also found that in 2014, the FHFS property-tax collection increased by $1.4 billion, from $6.5 billion to $12.5 million, from 2014 to 2015.
There are a few other notable nominees for the top job: Former Treasury Secretary Steven Mnuchin, the Republican nominee for treasury secretary, and retired Gen. David Petraeus, the GOP nominee for commander-in-chief.