Sen. Pat Toomey dropped his demand for sharp restrictions on emergency Fed powers.
Lawmakers on both sides said a provision by Sen. Pat Toomey, R-Pa., that would curb emergency Federal Reserve powers was the sticking point.
Negotiators have a handful of remaining holdups on the long-delayed $900 billion relief package.
The U.S. central bank is joining the financial equivalent of the Paris Agreement, becoming one of the last of its peers to do so.
The Treasury Secretary argued that the funds should instead be used to help small businesses and unemployed workers.
The former Federal Reserve chair would be the first woman to hold the influential Cabinet position.
Senate Majority Leader Mitch McConnell voted no, giving him the option to bring Shelton's nomination up again at a later date.
The richest got even richer this year while the poorest struggled even more.
The U.S. economy still faces threats, and without further support, those downward trends could still emerge, the Fed chairman said.
When Wall Street needs help, the Fed always brings the cavalry. So why has the central bank abandoned state and local governments?