Waller will join as a Fed governor
This is no surprise but it was a tight vote 48-47. He's the research chief at the St Louis Fed, which makes me wonder how much sway Bullard has over him.
Waller's term will last until 2030.
Here's a profile from the WSJ.
Mr. Trump announced his intention to nominate Mr. Waller and Ms. Shelton in July 2019, a period in which he was upset that the Fed wasn't moving faster to cut interest rates. The White House had discussed a possible appointment with St. Louis Fed President James Bullard, who in June 2019 had dissented from the Fed's decision to hold rates steady, preferring a cut.
Mr. Bullard recommended the White House consider for the job his research director, Mr. Waller, according to people familiar with the discussions.
