Senators are on track to confirm Trump’s chosen Federal Reserve chair later this week following a surprisingly bipartisan vote Monday night.
After no Democrat voted to approve Kevin Warsh’s nomination in committee, Democratic Sens. John Fetterman of Pennsylvania and Chris Coons of Delaware voted with 47 Republicans to advance the pick on the Senate floor. Though Fetterman had previously indicated his support for Warsh, Coons — who did not return a request for comment — had not.
Warsh will take the helm of a central bank wary of Trump’s calls for lower interest rates as the president’s Iran war and trade agenda continue driving prices up.
Jerome Powell, whose term as chair ends Friday, has said he plans to stay at the Fed as a governor until the administration’s probe of its renovations is “well and truly over.”