Senate advances Warsh, Trump’s pick to chair Federal Reserve
Summary
The Senate voted 49-44 to move forward with confirming Kevin Warsh as the next chairman of the Federal Reserve. If confirmed, Warsh will replace Jerome Powell as the head of the U.S. central bank.Key Facts
- Kevin Warsh was nominated by President Trump to chair the Federal Reserve.
- The Senate voted 49-44 to advance Warsh’s nomination.
- This vote means Warsh’s confirmation is likely to happen later this week.
- Warsh will replace Jerome Powell as chairman of the Federal Reserve.
- The Federal Reserve Board of Governors guides U.S. monetary policy.
- The vote occurred in the Senate Banking Committee.
- The decision is important for U.S. economic policy and interest rates.
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