Kevin Warsh set to clear key Senate hurdle to replace Fed chair Powell
A Senate committee is poised to advance Trumpās pick as doubts linger over the Fedās independence and Powellās futureUS politics live ā latest updatesSign up for the Breaking News US newsletter emailKevin Warsh, āDonald Trumpās pick to lead the Federal Reserve, is set to clear a key procedural hurdle on Wednesday, opening āthe way for him to succeed Jerome Powell in coming weeks amid the White Houseās unprecedented efforts to exert control over the worldās most powerful central bank.The Senate banking committee is set to vote at 10am EDT (1400 GMT) to advance Warshās nomination to the full Republican-controlled Senate. All 13 Republicans on āthe panel are expected to support Warsh after Thom Tillis, a North Carolina senator, dropped his opposition following the Department of Justiceās ādecision on Friday to end a criminal investigation into Powell that Tillis viewed as a threat to the ā Fedās political independence. Continue reading...
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