Menu

Post image 1
Post image 2
Post image 3
1 / 3
0

Kevin Warsh clears key Senate hurdle to replace Fed chair Powell

Reading 0:00
15s threshold

Kevin Warsh, ​Donald Trump’s pick to lead the Federal Reserve , clears a key procedural hurdle on Wednesday, opening ‌the way for him to succeed Jerome Powell in coming weeks amid the White House’s unprecedented efforts to exert control over the world’s most powerful central bank. Warsh’s nomination was approved in a 13 to 11 vote, strictly along party lines with Republicans supporting the nomination, setting up a confirmation vote in the US Senate in the coming days. All 13 Republicans on ​the panel voted in support of Warsh after Thom Tillis , a North Carolina senator, dropped his opposition following the Department of Justice’s ​decision on Friday to end a criminal investigation into Powell that Tillis viewed as a threat to the ⁠Fed’s political independence. The panel’s 11 Democrats, who say they doubt Warsh’s promise to set policy without regard to the president’s wishes, ​voted against him.…

Continue reading — create a free account

Join HashtagPLUS to read full articles, follow hashtags, vote, and join the conversation.

Read More