Senate confirms Utah investor to serve on Federal Reserve board

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.