The Senate banking committee on Wednesday voted to advance Kevin Warsh’s nomination to lead the Federal Reserve, teeing up President Donald Trump’s pick for a final confirmation vote in the Republican-controlled Senate.
The vote fell along party lines, with all 13 Republican members voting in favor of the nominee and all 11 Democrats voting against him.
Sen. Elizabeth Warren, D-Mass., the banking panel’s ranking member, slammed Warsh before the vote, warning that his confirmation would erode the central bank’s independence from the executive branch.
“The Trump economy is in real trouble. Inflation is up, job creation is down. The stink of stagflation is in the air, and President Trump is getting desperate,” Warren said.
“A vote today by this committee to advance Mr. Warsh will bring the president one step closer to completing his illegal attempt to seize control of the Fed and to artificially juice the economy,” she said.
