Warsh on Wednesday was confirmed by the Senate to formally succeed Federal Reserve Chair Jerome Powell, whose term ends May 15. President Donald Trump nominated Warsh to the powerful post in late January.

Pick of former Fed governor to replace Jerome Powell comes as White House seeks to tighten grip on central bank

Warsh on Wednesday was confirmed by the Senate to formally succeed Federal Reserve Chair Jerome Powell, whose term ends May 15. President Donald Trump nominated Warsh to the…

Trump’s pick follows his attacks on current Fed Chair Jerome Powell, who this week paused cuts to interest rates despite pressure from the president.

The 55-year-old economist had been considered for Fed chair during Trump's first term.

President Donald Trump announced Friday that he has nominated Kevin Warsh to be the next chair of the Federal Reserve Board, replacing Jerome Powell.