Kevin Warsh takes Fed helm under rate pressure (opens in new tab)

Kevin Warsh became chair of the Federal Reserve on Friday, May 15, succeeding Jerome Powell after the U.S. Senate confirmed him this week. The South China Morning Post reported the confirmation vote was 54-45, and Bursa, citing Reuters, said the vote took place on Wednesday. Warsh becomes the 17th head of the U.S. central bank. Several reports described him as President Trump’s pick for the role after months of White House pressure on Powell over interest rates. Warsh takes office with inflat...