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FED CHIEF NOMINEE WARSH CLEARS KEY HURDLE IN SENATE CONFIRMATION PROCESS

  • NEWS Desk Global
  • Apr 29
  • 1 min read

Kevin Warsh, U.S. President Donald Trump's pick to lead the Federal Reserve, cleared a key ​procedural hurdle on Wednesday, opening the way for him to succeed Jerome Powell next month amid the White House's unprecedented efforts to exert control over the world's ‌most powerful central bank.

The Senate Banking Committee voted 13-11 along party lines to advance Warsh's nomination to the full Republican-controlled Senate, which is expected to confirm him in a vote held the week of May 11. Powell's term as U.S. central bank chief ends May 15.

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