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.

Kevin Warsh won Senate confirmation to the Fed board, clearing a key step toward replacing Jerome Powell as Fed chair.

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