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 as the central bank's independence comes under attack and inflation hits at a three-year high. In its role as central bank, the Federal Reserve is tasked by Congress with keeping prices stable, which it seeks to do by adjusting its short-term rate to make borrowing and spending more expensive, cooling growth and inflation. The 54-45 Senate voted went largely along party lines to confirm Warsh for the post. Warsh is set to replace outgoing chair Jerome Powell , who has been a frequent target of Trump's criticism. Trump was vocal about wanting a Fed chair who would cut interest rates when the stock market rose. The move goes contrary to what traditional economics would prescribe.…