The Guardian Australia – Business
·business
·2 hours ago
US Senate confirms Kevin Warsh as Federal Reserve chair, replacing Jerome Powell
The US Senate confirmed Kevin Warsh as Federal Reserve chair on Wednesday in a 54-45 party-line vote, with Democrat John Fetterman joining Republicans. Warsh, 54, takes over from Jerome Powell on May 14 amid Trump administration pressure to lower rates despite inflation at 3.8%. The former Fed governor and Wall Street banker previously advocated for higher rates to combat inflation.
Summary by Glance · The Guardian Australia – Business
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