Kevin Warsh, confirmed as the next Federal Reserve chair on Wednesday, is a former Wall Street banker and the youngest Fed governor in US history. The 55-year-old worked closely with Ben Bernanke during the 2008 financial crisis and later joined Stanford’s Hoover Institution. Warsh is also linked to the billionaire Lauder family through his wife Jane Lauder.
Washington DC: The US Senate on Wednesday confirmed Kevin Warsh as the next chair of the Federal Reserve, marking a major victory for President Donald Trump after months of political debate over the future direction of the American economy and interest rate policy.
Warsh secured Senate approval with 54 votes in favour and 45 against, making it the narrowest confirmation margin for a Federal Reserve chair since the current approval process was introduced in 1977. He will officially replace outgoing Fed chair Jerome Powell, whose term ends on Friday after years of tense disagreements with Trump over interest rates and monetary policy.
The confirmation places one of Trump’s long-favoured economic voices at the helm of the world’s most influential central bank during a period of rising inflation, global uncertainty and mounting pressure on the US economy.
Who Is Kevin Warsh?
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