Senate confirms Kevin Warsh as Fed chair, 54-45 (opens in new tab)

The U.S. Senate voted 54-45 on Wednesday to confirm President Trump's nominee Kevin Warsh as chair of the Federal Reserve. Democratic Sen. John Fetterman joined Republicans in support, and Democratic Sen. Kirsten Gillibrand did not vote. Warsh will succeed Jerome Powell, whose four-year term as chair ends Friday. Powell plans to remain a Fed governor. Warsh takes over with the Fed's short-term target rate at 3.50% to 3.75% and inflation at a three-year high. President Trump has repeatedly pre...