Kevin Warsh confirmed as new US Federal Reserve chair amid controversy

Kevin Warsh has been confirmed by the United States Senate to be the chair of the Federal Reserve's Board of Governors, succeeding Jerome Powell. The Senate voted to confirm Warsh in a 54-45 vote, with Senator John Fetterman joining his Republican colleagues. Warsh's confirmation comes amid concerns about independence at the US central bank and rising inflation. He previously served on the central bank's Board of Governors from 2006 to 2011 and has advocated for rate cuts and a smaller balance sheet.