The U.S. Senate on Wednesday confirmed Kevin Warsh to lead the Federal Reserve. President Donald Trump had picked the former Fed governor to replace Jerome Powell, believing that Warsh can deliver the booming economy the president had promised voters.

The upper chamber voted to approve Warsh's nomination by a 51-45 vote, on a mostly party-line basis.

The Senate voted Tuesday to confirm Kevin Warsh as a member of the Federal Reserve Board of Governors, one step away from the position of Fed chair.