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Kevin Warsh is the new boss of the US bank

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Kevin Warsh leads the US bank soon. The name of the bank is Federal Reserve. People call it Fed. The US Senate chooses him. 54 people vote for him. 45 people vote against him. This is a very close result.

Donald Trump suggests Kevin Warsh. Many people feel worry. They think: Warsh listens too much to Trump. Trump wants low Zinsen. But Warsh says: I am not a puppet. He wants to decide on his own. He looks at the Preise.

Warsh follows Jerome Powell. His time in office ends this Friday. Trump and Powell often fight. It is about the Zinsen. Powell wants to stay in the bank council. The Preise in the USA rise fast right now. In April it was 3.8 percent.

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Definitions

Federal Reserve (Fed)
This is the bank for all of the USA. It decides about money and Zinsen.
Senate
The Senate is a part of the government in the USA. It chooses important people.
Interest rates
This is the price for borrowing money from a bank.
Inflation
Money is worth less. Things cost more money.

People

Kevin Warsh
He is an expert for money. He is the new boss of the Fed.
Donald Trump
He is the president of the USA.
Jerome Powell
He is the old boss of the Fed.

Locations

USA
This is a big country in North America.

Sources

Logo ZDFheute
ZDFheute

Warsh wird neuer Fed-Chef: US-Senat bestätigt Trump-Kandidat

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Logo Kleine Zeitung
Kleine Zeitung

Kevin Warsh: Neuer US-Notenbankchef vom Senat bestätigt

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Logo Spiegel
Spiegel

Kevin Warsh: US-Senat bestätigt Trumps Kandidaten als Fed-Chef

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