The Senate confirmed 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 was confirmed Wednesday in a largely party-line vote. His nomination had been 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.
Senate Majority Leader John Thune urged colleagues to support Warsh during a floor speech Wednesday morning, saying it’s critical that a Fed chair “understand not only the macro” but also “appreciate the microeconomy: and that’s the hardworking Americans, their jobs and their livelihoods”.
“Kevin Warsh is just such a person,” Thune said.
Warsh, 56, a former top Fed official, will become chair at an unusually difficult time fo​The Senate confirmed 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 was confirmed Wednesday in a largely party-line vote. His nomination had been 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.
Senate Majority Leader John Thune urged colleagues to support Warsh during a floor speech Wednesday morning, saying it’s critical that a Fed chair “understand not only the macro” but also “appreciate the microeconomy: and that’s the hardworking Americans, their jobs and their livelihoods”.
“Kevin Warsh is just such a person,” Thune said.
Warsh, 56, a former top Fed official, will become chair at an unusually difficult time fo ​Latest News [ SOBAN NEWS: International and National ]
