Senate confirms Utah investor to serve on Federal Reserve board

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SALT LAKE CITY — The U.S. Senate confirmed a Utah native to serve on the Federal Reserve board Tuesday.

Randal Quarles, who served in top Treasury Department positions under two Republican presidents, will serve a 14-year term. The vote was 66-33, with Utah GOP Sens. Orrin Hatch and Mike Lee voting for Quarles.

Quarles, 60, is the founder and CEO of the Salt Lake City-based investment firm The Cynosure Group. He was raised in Roy and graduated from Roy High School.

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Dennis Romboy

Dennis Romboy is an editor and reporter for the Deseret News. He has covered a variety of beats over the years, including state and local government, social issues and courts. A Utah native, Romboy earned a degree in journalism from the University of Utah. He enjoys cycling, snowboarding and running.