Senate confirms Trump's Fed chair pick Kevin Warsh
Economist Warsh replaces Jerome Powell amid White House pressure on central bank independence.
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The US Senate has confirmed Kevin Warsh as chair of the Federal Reserve, replacing Jerome Powell. Warsh, 56, arrives at the central bank at a critical moment marked by renewed inflationary pressures and direct White House interference in monetary policy.
President Trump had repeatedly criticized Powell and pushed for his replacement. Warsh's appointment signals a shift toward greater executive influence over the traditionally independent institution.
The confirmation comes as the Fed faces dual challenges: managing price stability while navigating political pressure from the administration. Warsh's tenure will be closely watched by EU policymakers concerned about dollar strength and global economic spillovers from Fed decisions.