Kevin Warsh, nominated by US President Donald Trump for the chairmanship of the US Federal Reserve, has been confirmed by the Senate.
It has been reported that Kevin Warsh, nominated by US President Donald Trump for the chairmanship of the US Federal Reserve (Fed), has been confirmed by the Senate. Warsh will replace the current Fed Chairman Powell, whose official term ends on Friday. Warsh's Fed chairmanship was approved in a Senate vote with 54 votes in favor and 45 against.
Warsh will take over the leadership seat at the Central Bank from the current Fed Chairman Jerome Powell, whose official term will end on May 15. Powell will continue to remain at the Fed as a Board member. Warsh is expected to begin his four-year term following the swearing-in ceremony and to preside over the next Federal Open Market Committee (FOMC) meeting scheduled for June 16-17.
