WASHINGTON - The US Senate is expected to confirm Kevin Warsh as Federal Reserve chairman on Wednesday, as President Donald Trump applies unprecedented pressure on the central bank to cut interest rates despite stubbornly high inflation.

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

Warsh’s confirmation to the Fed board positions the crypto-linked investor to replace Jerome Powell as chair amid inflation and digital asset policy debates.