Trump's Federal Reserve chair nominee confirmed by Senate
Key takeaways
- Kevin Warsh is set to replace outgoing chair Jerome Powell, who has been a frequent target of Trump's criticism.
- President Donald Trump nominated Warsh for the four-year term at a critical time, with the central bank's independence under attack and inflation running at a three-year high.
- The Senate voted largely along partisan line 54 to 45 to confirm Warsh, who has echoed Trump's call for lower interest rates to boost the US economy.
Why this matters: an international story with cross-border implications worth tracking.
Kevin Warsh is set to replace outgoing chair Jerome Powell, who has been a frequent target of Trump's criticism.
https://p.dw.com/p/5Dj Vz Kevin Warsh has supported Trump's move to lower interest rates (FILE: May 8, 2017)Image: Brendan Mc Dermid/REUTERSAdvertisement Kevin Warsh was confirmed in the US Senate to the critical role of chair of the Federal Reserve. President Donald Trump nominated Warsh for the four-year term at a critical time, with the central bank's independence under attack and inflation running at a three-year high.
The Senate voted largely along partisan line 54 to 45 to confirm Warsh, who has echoed Trump's call for lower interest rates to boost the US economy.