Jerome Powell’s chairmanship ends on May 15.
Kevin Warsh is a former Wall Street executive who previously served as a Fed governor. Francis Chung/POLITICO/AP
President Donald Trump’s pick for the Federal Reserve has been confirmed.
Kevin Warsh will take over as chair of the Federal Reserve this week. The Senate voted 54-45 to confirm him to a four-year term Wednesday, ending a monthslong Republican standoff over the central bank’s independence.
Sen. John Fetterman was the lone Democrat to vote in favor of Warsh’s confirmation to the chairmanship and a 14-year term on the board of governors.
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