The US Senate has confirmed Kevin Warsh as the new chair of the Federal Reserve. President Donald Trump nominated Warsh for a four-year term at a critical time for the central bank.

The vote was largely along party lines, 54 to 45, with Warsh echoing Trump's calls for lower interest rates to boost the US economy.

Warsh is set to replace outgoing chair Jerome Powell, who has been a frequent target of Trump's criticism.

The confirmation comes as the Fed's independence is under attack and inflation runs at a three-year high.

Source: www.dw.com