A Senate committee advances Trump’s pick as doubts linger over the Fed’s independence and Powell’s future
Kevin Warsh, Donald Trump’s pick to lead the Federal Reserve, clears a key procedural hurdle on Wednesday, opening the way for him to succeed Jerome Powell in coming weeks amid the White House’s unprecedented efforts to exert control over the world’s most powerful central bank.
Warsh’s nomination was approved in a 13 to 11 vote, strictly along party lines with Republicans supporting the nomination, setting up a confirmation vote in the US Senate in the coming days.
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This article was originally published by The Guardian and written by Michael Sainato and Reuters.
Read original article on The Guardian