Nick Timiraos: Democratic control of the Senate will limit Trump's ability to reshape the Federal Reserve

Nick Timiraos wrote that if Democrats control the Senate, Federal Reserve Chairman Kevin Warsh will face obstacles in personnel appointments and may have to work with existing governors. The Democratic-controlled Senate poses a constraint on Trump's efforts to reshape the Federal Reserve. Currently, a majority of seats on the Board of Governors are held by other presidents and are not vacant; future nominees must be confirmed by the Democratic Senate. Last year, Stephen Milan's confirmation and Mickey Bowman's promotion to Vice Chairman for Bank Supervision both received no Democratic votes, and Kevin Warsh himself only received one Democratic vote from Fetman.