As Donald Trump Pushes For Lower Rates, Senate Moves Closer To Confirming Kevin Warsh As Fed Chair

The U.S. Senate is expected to confirm Kevin Warsh as the next chair of the Federal Reserve this week, according to The Guardian. Warsh would replace outgoing Fed Chair Jerome Powell at a time when President Donald Trump has continued criticizing the central bank for keeping interest rates elevated.
Democrats have criticized Warsh as too closely aligned with Trump after the nominee publicly backed the president's view that rates are too high. In Senate testimony, Warsh said he would act independently, though Powell recently warned that political pressure on the Fed was "battering the institution."
Trump's conflict with Powell escalated in recent months after the administration backed a criminal investigation into renovation costs at the Fed's headquarters. Trump also joked last month that