The US Senate has confirmed Kevin Warsh as Federal Reserve chair, paving the way for the financier to succeed Jay Powell at the helm of a central bank divided over how to respond to the fallout of the Iran war.
Warsh, President Donald Trump’s pick to lead the Fed, was approved in a 54-45 vote on Wednesday afternoon, bringing to a close one of the most turbulent contests for the top job at the world’s most important central bank in decades.
The vote was largely down party lines with just one Democratic senator — Pennsylvania’s John Fetterman — joining the chamber’s 53 Republican senators in backing him.
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