The Senate confirmed Kevin Warsh as Federal Reserve chair in a 54-45 vote, the narrowest confirmation margin for a Fed leader on record. The vote came amid concerns over persistent inflation and political pressure from President Donald Trump for lower interest rates. Warsh, who will succeed Jerome Powell on Friday, pledged to preserve the Fed’s monetary policy independence during his confirmation hearing. The confirmation followed stronger-than-expected April producer inflation data and growing

The Senate confirmed Kevin Warsh as Federal Reserve chair in a 54-45 vote, the narrowest confirmation margin for a Fed leader on record. The vote came amid concerns over persistent inflation and political pressure from President Donald Trump for lower interest rates. Warsh, who will succeed Jerome Powell on Friday, pledged to preserve the Fed’s monetary policy independence during his confirmation hearing. The confirmation followed stronger-than-expected April producer inflation data and growing debate inside the Fed over whether future rate moves could include hikes as well as cuts.