Senate panel approves Trump’s nominee Kevin Warsh to replace Jerome Powell as US Fed chair on party-line vote.

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The Senate Banking vote is the first of two key events surrounding the future of the Fed’s leadership.

Current Fed Chair Jerome Powell has faced a barrage of criticism from Trump over his refusal to slash interest rates as much as the president wants.

Senate panel approves Trump’s nominee Kevin Warsh to replace Jerome Powell as US Fed chair on party-line vote.

Kevin Warsh, President Trump's pick for chairman of the Federal Reserve, cleared another hurdle Wednesday, with his nomination going to the full Senate.