"Warsh's nomination now advances to the full Senate for a vote to formally confirm him as the head of the central bank. The earliest the full Senate could vote to confirm Warsh would be May 11."
"With the Department of Justice seemingly dropping its investigation into current chair Jerome Powell, Warsh's path to the seat looks significantly clearer."
"As Republicans hold the Senate majority, there is the sense that Warsh's confirmation is a done deal."
"The noise surrounding the independence of the central bank has somewhat quietened as a result, and, on the DOJ's word, Senator Thom Tillis has dropped his hold on the Warsh nomination."
Kevin Warsh has been approved by the Senate Banking Committee to replace Jerome Powell as chair of the US Federal Reserve. The vote was along party lines, with 13 Republicans in favor and 11 Democrats against. Warsh's nomination now moves to the full Senate for confirmation, potentially as early as May 11. The Department of Justice's decision to drop its investigation into Powell has cleared the way for Warsh's nomination, leading to expectations of his confirmation given the Republican majority in the Senate.
Read at www.aljazeera.com
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