US Senate confirms Trump nominee Kevin Warsh as Federal Reserve chair

The US Senate on Wednesday confirmed Kevin Warsh as chair of the Federal Reserve for a four-year term, with President Donald Trump‘s nominee inheriting a central bank with its independence under attack and inflation running at a three-year high.

The Senate voted 54 to 45 to confirm Warsh, who like Trump has advocated for lower interest rates. He will replace outgoing chair Jerome Powell, a frequent target of the president’s insults and criticism.