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The Senate Banking Committee voted Wednesday to advance the nomination of Kevin Warsh, President Donald Trump's pick to succeed Powell.
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Jerome Powell, whose term as Fed chair ends in May, said he planned to stay at the central bank as a governor.
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Powell welcomed the news that the U.S. Attorneyโs office had dropped the criminal investigation against him. And he congratulated Kevin Warsh on the advancement of his nomination out of the Senate Banking Committee.
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