U.S. Senate Votes to Confirm Kevin Warsh as Federal Reserve Chair

The U.S. Senate voted Wednesday to confirm Kevin Warsh as the next chair of the Federal Reserve. He was approved on a vote of 54 to 45 after Pennsylvania Democrat John Fetterman joined all 53 Republican senators voting in favor of his confirmation. Warsh replaces outgoing Fed Chair Jerome Powell, whom Trump nominated to the position in 2017. Trump later turned on Powell and attempted to force him out of his role after the Fed resisted Trump’s demands to lower interest rates. Following Wednesday’s confirmation vote, Massachusetts Democratic Senator Elizabeth Warren said, “Trump wants to control interest rates, and he nominated Kevin Warsh to be his sock puppet. … Warsh’s confirmation is another step in Trump’s attempt to take over the Fed.”