Trump’s New Fed Chair Pick Gets Good News From the Senate

The Senate voted 51-45 to confirm Warsh to a 14-year term on the Fed’s seven-member board, putting one of Trump’s preferred economic voices in position ahead of a separate vote later this week on whether he will officially replace outgoing Fed Chair Jerome Powell.

The confirmation marks a pivotal moment in Trump’s long-running battle with Powell over interest rates and monetary policy. Trump has repeatedly blasted Powell for refusing to slash rates more aggressively, once calling him a “moron” and a “stubborn mule” as the White House pushed for looser policy to stimulate growth.