Kevin Wersh was confirmed by the US Senate to the important role of Chairman of the Federal Reserve. President Donald Trump nominated Warsh to a four-year term at a critical time, when the central bank’s independence was under attack and inflation was at a three-year high.
The Senate voted along largely partisan lines 54 to 45 to confirm Warsh, who has reiterated Trump’s call for low interest rates to boost the US economy.
Warsh is set to replace outgoing Chairman Jerome Powell, who has been a frequent target of Trump’s criticism.
This is a developing story, more details to come…
Edited by: Wesley Dockery