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EXCERPT:
President Donald Trump scored a major win Tuesday after the Senate confirmed Kevin Warsh to the Federal Reserve Board of Governors, clearing the way for the former central banker to potentially become the next face of the Fed.
The Senate voted 51-45 to confirm Warsh to a 14-year term on the Fed’s seven-member board, putting one of Trump’s preferred economic voices in position ahead of a separate vote later this week on whether he will officially replace outgoing Fed Chair Jerome Powell.
The confirmation marks a pivotal moment in Trump’s long-running battle with Powell over interest rates and monetary policy. Trump has repeatedly blasted Powell for refusing to slash rates more aggressively, once calling him a “moron” and a “stubborn mule” as the White House pushed for looser policy to stimulate growth.