Senate Confirms Kevin Warsh As Fed Governor, Another Step Toward Becoming Chair

Warsh, nominated by President Donald Trump to replace Jerome Powell, has said the Fed should remain "strictly independent" in setting monetary policy. (Credit: C-SPAN)

The Senate on Tuesday confirmed Kevin Warsh as governor of the Fed, taking another step towards replacing Jerome Powell as chair of the central bank.

The Upper House voted 51-45 to confirm Warsh for a 14-year term as one of the body's seven governors. It still needs to vote whether to confirm him as Fed chair to replace Powell, whose four-year term ends on Friday.