00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The Senate Banking Committee voted Wednesday to advance Kevin Warsh's nomination to lead the
00:07Federal Reserve, setting up a final confirmation vote in the Republican-controlled Senate,
00:12according to CNBC. The vote split along party lines, with all Republicans supporting Warsh
00:18and all Democrats opposing him. Senator Elizabeth Warren warned his confirmation would erode the
00:24central bank's independence and accused President Trump of trying to control the Fed.
00:27The vote came hours before the Fed's latest rate decision under Jerome Powell,
00:32as the central bank maintains a wait-and-see stance amid inflation and Iran-war-related
00:37price pressures. Warsh's path cleared after the Justice Department dropped a probe into Powell,
00:43prompting Senator Tom Tillis to lift his opposition.
00:45For all things money, visit Benzinga.com.
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