Panel OKs Gramm

The Senate Agriculture Committee has voted to approve the nomination of Wendy Gramm to become chairman of the Commodity Futures Trading Commission.

The full Senate is expected to vote on Gramm’s nomination soon, perhaps before the end of the week, Senate staff members said. Gramm, who would be the first native Asian woman to be appointed to a senior Administration post, is expected to be easily confirmed.

Gramm is White House administrator for information and regulatory affairs. Republican Sen. Phil Gramm of Texas is her husband.

Gramm would fill the remaining two years in the five-year term of Susan Phillips, who resigned last July, as head of the five-person commission. Kalo Hineman has been acting chairman since Phillips left. The CFTC regulates all U.S. exchanges that offer futures or options.