TLDR Tech / Crypto
Senate Confirms Kevin Warsh as Fed Chair in Closest Modern-Era Vote
The Senate confirmed Kevin Warsh as the 11th Federal Reserve chair in a 54-45 vote, replacing Jerome Powell, whose term expires Friday. The near-party-line tally, only Sen. John Fetterman crossed the aisle, reflects deep partisan tension over Fed independence, which peaked when the DOJ briefly opened a criminal probe into the central bank before dropping it. Warsh has argued rates have room to fall but pledged to set monetary policy on his own judgment, not at White House direction. His first FOMC meeting as chair is scheduled for June 16 to 17.
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