The US Senate confirmed Kevin Warsh to a 14-year term on the Federal Reserve Board of Governors in a 51-45 vote.This appointment sets the stage for a Senate vote to promote Warsh to the position of chair later this week.Jerome Powell intends to remain on the board until 2028 despite pressure regarding a criminal probe into building renovations.Warsh assumes his role as the
Federal Reserve faces 3.8 percent inflation and demands from
Donald Trump to reduce interest rates.