Senate confirms Fed chair nominee Kevin Warsh, ending standoff over Powell probe
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CBS News - Top Stories
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AI-Generated Claims
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Kevin Warsh was confirmed by the narrowest margin since the role required a Senate confirmation vote.
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Kevin Warsh was confirmed by the Senate on Wednesday as the next Federal Reserve chair.
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Warsh will succeed Jerome Powell, whose term ends Friday.
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CBS News' Caitlin Huey-Burns has more.
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How much sway will new Fed Chair Kevin Warsh have over interest rates?.
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Fed chairs usually have a great deal of influence over the committee that sets interest rates, but their power is not absolute.
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And experts say Warsh will need to work to form consensus.
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Summary
**Summary:** The U.S. Senate has confirmed Kevin Warsh as the new nominee for the position of Federal Reserve chair, following a brief standoff over an investigation into former Fed Chair Jerome Powell. **Why It Matters:** This confirmation marks a significant shift in leadership at the Federal Reserve, potentially altering the direction of monetary policy
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