The U.S. Senate confirmed Kevin Warsh as the new Federal Reserve chairman in a 54-45 vote, positioning him to lead a central bank facing pressure from President Trump and high inflation. Warsh, once a monetary hawk, has aligned with Trump's push for lower interest rates.

The US Senate on Wednesday confirmed Kevin Warsh as the new Federal Reserve chairman to lead a central bank whose independence is under attack and with inflation at a three-year high. The Senate voted 54 to 45 to in favour of Warsh, with Republicans holding a slim majority and ensuring US President Donald Trump’s nominee to replace Jerome Powell was confirmed. Once known as a monetary “hawk” against inflation, Warsh has shifted in line with Trump’s push for lower interest rates that has posed an...