Source: New York Post
Democrats’ sweeping midterm victory, and particularly their coming control of the US Senate, strengthen the Federal Reserve against President Trump’s efforts to meddle with it, with the Senate’s control over appointments a major guardrail against Trump landing any more allies at the central bank. It could also mean new headaches for Chairman Kevin Warsh, with key oversight committees now in the hands of Democrats, and in the case of the Senate Banking Committee, with Democratic Sen. Elizabeth Warren, of Massachusetts, a harsh Warsh critic, likely replacing Trump ally and Warsh supporter Tim Scott of South Carolina as the panel’s chair.
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