Kevin Warsh confirmed as Federal Reserve chair
Summary
The Senate confirmed Kevin Warsh as the new chair of the Federal Reserve with a 54-45 vote. Warsh will replace Jerome Powell and will have an important role in setting interest rates in the United States.Key Facts
- Kevin Warsh was confirmed by the Senate on Wednesday.
- The vote count was 54 in favor and 45 against.
- Senator John Fetterman, a Democrat from Pennsylvania, voted with Republicans to support Warsh.
- Warsh is becoming the head of the Federal Reserve, the U.S. central bank.
- The Federal Reserve controls interest rates, which affect the economy.
- He will replace Jerome Powell as chair.
- Jerome Powell had disagreements with President Donald Trump during his term.
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