Senate confirms Trump pick Warsh as chairman of the Federal Reserve, following Powell

WASHINGTON (AP) — The Senate has confirmed Kevin Warsh as chairman of the Federal Reserve. The vote to confirm Warsh on Wednesday brings new leadership to the world’s most powerful central bank at a fraught moment for the global economy. Warsh’s nomination faced uncertainty after Republican Sen. Thom Tillis of North Carolina threatened to block it while the Justice Department investigated Fed Chair Jerome Powell. The Powell probe was dropped in April, allowing the Warsh confirmation to move forward. Warsh will take over as the Fed confronts stubborn inflation, deep divisions over interest rates and renewed scrutiny from President Donald Trump over its independence.