Senate Confirms Kevin Warsh to Lead Fed in Narrowest-Ever Vote

The Senate narrowly confirmed Kevin Warsh as chair of the Federal Reserve, setting up the most controversial leadership transition at the US central bank in decades and a test of its political independence.

The 54-45 vote Wednesday was the slimmest confirmation margin ever for a head of the central bank, reflecting polarized politics in Congress and Democratic fears that Warsh will bend to President Donald Trump’s demands to rapidly lower interest rates.

Kevin Warsh at his Senate confirmation hearing in April.

Photographer: Graeme Sloan/Bloomberg

Only one Democrat, John Fetterman of Pennsylvania, crossed party lines to back Warsh to succeed Jerome Powell. The incoming chairman’s vote margin came in ...