Kevin Warsh has taken the next step towards his nomination to lead the Federal Reserve.
The Senate Banking committee voted earlier this week, with the vote seeing all 13 Republican members voting in favour and all 11 Democrats voting to the negative.
The vote was the next step to a final confirmation vote on Warsh, who was selected by President Donald Trump as his pick for the job.
Senator Elizabeth Warren, who is also the ranking member of the banking panel, condemned the choice of Warsh as she addressed the committee before the vote.
“The Trump economy is in real trouble. Inflation is up, job creation is down. The stink of stagflation is in the air, and President Trump is getting desperate,” she said.
“A vote today by this committee to advance Mr. Warsh will bring the president one step closer to completing his illegal attempt to seize control of the Fed and to artificially juice the economy."
