Warsh confirmed as Federal Reserve chair, as US central bank faces Trump assault

The US Senate on Wednesday confirmed Kevin Warsh as the new Federal Reserve chairman to lead a central bank whose independence is under attack and with inflation at a three-year high. The Senate voted 54 to 45 to in favour of Warsh, with Republicans holding a slim majority and ensuring US President Donald Trump’s nominee to replace Jerome Powell was confirmed. Once known as a monetary “hawk” against inflation, Warsh has shifted in line with Trump’s push for lower interest rates that has posed an...

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