The US Senate has approved Kevin Warsh as the newest governor of the Federal Reserve, with a vote on his confirmation as chair of the central bank expected this week.
In a 51 to 45 vote in the US Senate on Tuesday, lawmakers sided on party lines, with the exception of Democratic Senator John Fetterman, to approve President Donald Trump’s nominee. The chamber immediately followed by approving a motion to invoke cloture on a vote for Warsh as the next Fed chair, setting up a potential vote soon.
Source: US Senate
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The vote confirmed Warsh as a Fed governor for 14 years, and is expected to lead to lawmakers voting on his nomination for a four-year term as Fed chair. He previously served as a Fed governor under former US Presidents George W. Bush and Barack Obama from 2006 to 2011.
Jerome Powell, whose term as Fed chair ends on Friday, has faced Trump’s
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