Kevin Warsh confirmed as Fed chair in record-close Senate vote

The U.S. Senate has confirmed Kevin Warsh as chair of the Federal Reserve by a 54–45 vote, the narrowest confirmation margin ever for a Fed chair, Bloomberg reported. Investors are watching whether Warsh will back President Donald Trump's push for lower interest rates, even as Warsh told lawmakers at his confirmation hearing that the Fed's monetary policy would remain "strictly independent."