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Wednesday, July 14, 2021: Seema Nanda confirmed as U.S. Department of Labor Solicitor: Obama Re-Union Continues
The U.S. Senate voted 53-46 to confirm Seema Nanda as U.S. Labor Department (“DOL”) Solicitor, filling the DOL’s chief legal officer position. The Solicitor position, the number three official at USDOL, represents the DOL in all necessary litigation, including both enforcement actions and defensive litigation.
The confirmation marks Ms. Nanda’s return to USDOL where she had previously served as Deputy Solicitor and Chief of Staff to the Secretary during the Obama Administration. The appointment also underscores the Biden Administration’s priority commitment to Wage and Hour matters since Ms. Nanda had championed the wage rights of employees in her last stint at USDOL. Republicans had objected to Ms. Nanda’s nomination as “too political” since she had followed prior USDOL Secretary of Labor Tom Pere
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The Dollar/Yen is trading sharply lower late in the session on Thursday as investors shunned risky assets after minutes of the U.S. Federal Reserve’s June policy meeting confirmed it was moving towards tapering its asset purchases as soon as this year.
The risk off theme was fueled by weakness in mega cap U.S. technology stocks and renewed demand for the safe-haven appeal of government debt and safe-haven currencies. A broader-based sell-off in Asian stocks also contributed to the move.
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