Jefferson was a longtime economics professor and college dean before becoming a Fed governor last May, and has voted for every interest-rate hike since then as the central bank has waged a war against inflation.

His new role means he will work closely with Fed Chair Jerome Powell and New York Fed President John Williams to hash out policy alternatives ahead of each rate-setting meeting attended by the full panel of 19 U.S. central bankers.

Fed policymakers are widely expected to leave the benchmark rate in its current range of 5.25%-5.5% at their next meeting, Sept. 19-20, but to also leave the door open for one last rate hike before the end of the year.

Senators are expected later on Wednesday to take up the nominations of Fed Governor Lisa Cook to a new 14-year term, and of World Bank economist Adriana Kugler to fill the last open seat on the seven-member Fed Board.

The confirmations would cement the current Fed Board as the most diverse in the central bank's more-than-100-year history. Jefferson is only the second Black man ever to be appointed to the institution's No. 2 job; Cook is the first Black woman to be a member of the Board, and Kugler will be its first Latina.