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International Business Times
International Business Times
Politics
Demian Bio

Kevin Warsh Clears Key Hurdle To Become The Next Fed Chair

Kevin Warsh US Federal Reserve Donald Trump the Federal Reserve the Senate Banking Committee
Kevin Warsh's nomination to lead the Fed was approved by the Senate Banking Committee on Wednesday. (Credit: C-SPAN)

The Senate Banking Committee approved on Wednesday Kevin Warsh's nomination to be the next chair of the Federal Reserve, clearing a key hurdle for his confirmation.

The vote fell along party lines, with 13 Republicans voting in favor of it and 11 Democrats against the nomination. The GOP got enough votes to advance the nomination after Republican Senator Thom Tillis said he would support it following the Department of Justice's dropping of a criminal investigation on the current Fed chair, Jerome Powell.

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