How much sway will new Fed Chair Kevin Warsh have over interest rates?

Washington — The Federal Reserve will get a new leader on Friday — but his power isn't as vast as it might seem. The Senate confirmed Kevin Warsh , President Trump's pick for Fed chair, in a 54-45 vote on Wednesday. Mr. Trump's goals for the monetary policy job are not difficult to discern: He has openly pressed the Fed to slash interest rates for months, and has repeatedly lashed out at outgoing Chair Jerome Powell for not rapidly cutting rates. …