Senate Confirms New Federal Reserve Chair
· Telemundo McAllen (KTLM)
WASHINGTON — The Senate confirmed President Donald Trump's nominee to lead the Federal Reserve, Kevin Warsh, bringing new leadership to the world's most powerful central bank at a critical time for the global economy. Warsh was confirmed on Wednesday in a vote that largely followed party lines. His nomination had been in doubt in recent months after Republican Senator Thom Tillis of North Carolina declared he would block the nomination while the Justice Department investigated Fed Chair Jerome Powell. The investigation into Powell was dismissed in April, clearing the way for the Senate to confirm Warsh. Senate Majority Leader John Thune (R-S.D.) urged his colleagues to support Warsh during a speech on the Senate floor Wednesday morning, stating that it is crucial for a Fed chair to 'understand not only the macro' but also 'to appreciate microeconomics: that is, hardworking Americans, their jobs, and their livelihoods.'
AI summary · Source: Telemundo McAllen (KTLM) →
