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Senate is set to confirm Trump pick Warsh as chairman of the Federal Reserve, following Powell
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Senate is set to confirm Trump pick Warsh as chairman of the Federal Reserve, following Powell

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WASHINGTON (AP) — The Senate on Wednesday is set to confirm President Donald Trump’s nominee to lead the Federal Reserve, Kevin Warsh, bringing new leadership to the world’s most powerful central bank at a fraught moment for the global economy. Warsh’s confirmation was thrown into doubt in recent months after Republican Sen. Thom Tillis of North Carolina said he would block the nomination while the Justice Department investigated Fed Chair Jerome Powell. The Powell probe was dropped in April, clearing the way for the Senate to confirm Warsh. Warsh, 56, a former top Fed official, is becoming chair at an unusually difficult time for the independent agency. Inflation has topped the Fed’s 2% target for five years and is now rising faster because of spiking gas prices. The Fed’s interest rate-setting committee is divided and saw the most dissenting votes in more than three decades last month.…

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