Kevin Warsh’s nomination as the next chair of the Federal Reserve has been approved by the Senate banking committee, moving Donald Trump’s pick one step closer to leading the US central bank.
The committee voted 13 to 11 on Wednesday to allow Warsh’s candidacy to proceed to the Senate floor for a full vote, which is expected to take place in the coming days.
The nomination had been gridlocked after Thom Tillis, a Republican senator from North Carolina, said he would not approve it until a criminal probe into Jay Powell, the incumbent Fed chair, was abandoned.
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