The Senate confirmed former finance executive and former Federal Reserve Governor Kevin Warsh as the U.S. central bank’s new chair May 13.

The U.S. Senate is expected to confirm Kevin Warsh ⁠as ⁠chair of the Federal Reserve on Wednesday, putting the ⁠56-year-old lawyer and financier at the helm as the U.S. central bank grapples with intensifying inflation that may make it hard ​to push through the interest-rate cuts that President Donald Trump has demanded.

His nomination to be the central bank’s leader for a four-year term requires a separate Senate vote, which is expected as soon as Wednesday.

Kevin Warsh testifies during his nomination hearing to be a member and chairman of the Federal Reserve Board of Governors before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill,

Warsh has argued there's room for the central bank to lower interest rates, but that could be challenging at a time of rising inflation.

The Senate confirmed President Donald Trump's Fed chair nominee Kevin Warsh for a new term on the Fed's Board of Governors.

The U.S. Senate on Tuesday ⁠confirmed ⁠Kevin Warsh to a 14-year ⁠term as Federal Reserve governor, marking an important step toward his succeeding ​Jerome Powell as the U.S. central bank's next leader.

The Senate voted to confirm Kevin Warsh as chairman of the Federal Reserve, marking a victory for President Trump.