The US Senate has confirmed Kevin Warsh as a governor on the board of the Federal Reserve, clearing the way for him to take the reins of the central bank later this week.⁣ ⁣ The Senate voted 51-45 to confirm Warsh's appointment to the board for a 14-year term, with the results largely along party lines.⁣ ⁣ The Senate will hold a separate vote to confirm Warsh as the central bank's chair, taking over from incumbent Jerome Powell, whose term finishes at the end of this week.⁣ ⁣ US President Donald Trump has frequently insulted and criticized Powell, demanding the central bank lower interest rates faster, despite significant economic headwinds.⁣ ⁣ US consumer inflation came in at its highest year-on-year level since 2023 on Tuesday, registering at 3.8% in April, with significant increases in both energy and food prices.⁣ ⁣ Warsh has backed lower interest rates, despite price increases having outpaced the Fed's long-term two-percent target for years.⁣ ⁣ #fed #warsh #powell #us #usa #trump ...