Powell named as interim Fed chair pending Warsh takeover
Board approves temporary action amid two dissents
The Federal Reserve has said Jerome Powell will remain its acting chair pending the swearing in of Kevin Warsh.
In a statement on May 15, the US central bank said its seven-member board of governors had named Powell as “chair pro tempore”. It said this was a “temporary action” that was consistent with “past practice during similar transitions between chairs”.
The Senate confirmed Warsh last week as the Fed’s next chair in a historically partisan vote. On May 13, the upper chamber of Congress
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