U.S. Senate Confirms Kevin Warsh for Federal Reserve Board Seat

Deep News01:15

The U.S. Senate has confirmed Kevin Warsh as a member of the Federal Reserve Board of Governors, positioning him to potentially succeed Jerome Powell as Chair when Powell's term concludes this Friday. Tuesday's vote of 51-45 largely followed party lines, with only one Democrat, John Fetterman of Pennsylvania, supporting Warsh. During his confirmation hearing last month, Democratic senators extensively questioned Warsh on whether he would resist White House influence over the Fed. Warsh stated he would operate independently. This confirmation vote returns Warsh to the seven-member Board, a position he previously held from 2006 to 2011 as a then-newcomer. Governors serve 14-year terms. Warsh succeeds Stephen Moore, a former advisor in the Trump administration who filled a brief interim vacancy on the Board starting late last year. While Warsh is now a Federal Reserve Governor, a separate Senate vote would be required for him to ascend to the position of Federal Reserve Chair.

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