New Delhi, May 14 -- Kevin Warsh was approved by the Senate as the next chair of the Federal Reserve on Wednesday afternoon, inheriting an economy reckoning with persistent inflation and an increasingly divided group of policymakers.

The chamber confirmed him with a vote of 54-45, almost entirely along party lines. Pennsylvania Democrat John Fetterman was the lone crossover.

The vote came just days before Jerome Powell's term as chair expires Friday. The Senate approved Warsh as a Fed governor on Tuesday.

Warsh, 56, is no stranger to the central bank. He previously served on its board of governors from 2006 to 2011. But the Fed job he is about to take on is considerably more difficult than the one he left. Inflation is at a three-year ...