Senate panel advances Trump Fed chair pick Kevin Warsh
Summary
The Senate Banking Committee voted 13-11 to move Kevin Warsh’s nomination to lead the Federal Reserve to the full Senate. This vote happened shortly after the Justice Department ended a criminal investigation into current Fed Chair Jerome Powell.Key Facts
- The Senate Banking Committee advanced Kevin Warsh’s nomination for Federal Reserve Chair.
- The vote was split along party lines, 13 in favor and 11 against.
- This vote sends Warsh’s nomination to the full Senate for a final decision.
- The nomination had been delayed for nearly two months.
- The Department of Justice recently stopped a criminal investigation of current Fed Chair Jerome Powell.
- Kevin Warsh would take over leadership of the central bank if confirmed.
- The Federal Reserve plays a key role in managing the U.S. economy and setting interest rates.
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