politics
Senate advances Warsh, Trump’s pick to chair Federal Reserve
Key takeaways
- The Senate voted 49-44 to advance the nomination, a development that was expected after the Senate Banking Committee voted 13-11 along party lines last week to report Warsh to the floor.
- John Fetterman (D-Pa.) and Chris Coons (D-Del.) were the only Democrats to vote to advance Warsh s nomination.
- Warsh has taken a cautious approach to the prospect of cutting interest rates later this year, despite heaping pressure from Trump to significantly reduce borrowing costs.
Why this matters: political developments that affect policy direction and public trust.
The Senate voted 49-44 to advance the nomination, a development that was expected after the Senate Banking Committee voted 13-11 along party lines last week to report Warsh to the floor.
Sens. John Fetterman (D-Pa.) and Chris Coons (D-Del.) were the only Democrats to vote to advance Warsh s nomination. No Republican voted against moving the nominee.
Warsh has taken a cautious approach to the prospect of cutting interest rates later this year, despite heaping pressure from Trump to significantly reduce borrowing costs.
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