Trump’s New Fed Chair Pick Gets Good News From the Senate

The confirmation marks a pivotal moment in Trump’s long running battle with Powell over interest rates and monetary policy

Trump has repeatedly blasted Powell for refusing to slash rates more aggressively, once calling him a “moron” and a “stubborn mule” as the White House pushed for looser policy to stimulate growth.

The vote also intensifies scrutiny over the Federal Reserve’s future direction as Trump attempts to reshape the central bank with allies more aligned with his economic agenda.

Warsh, 55, is no stranger to the Fed. The Stanford University and Harvard Law School graduate previously served as a Fed governor from 2006 through 2011, including during the height of the global financial crisis. Since leaving the central bank, he has worked at Stanford’s Hoover Institution and advised billionaire investor Stanley Druckenmiller.