New Delhi, May 14 -- The US Senate on Wednesday (May 13) confirmed Kevin Warsh as the next chair of the Federal Reserve, placing the former Fed governor at the helm of America's central bank at a time of rising inflation, political pressure and growing uncertainty over interest rates.

Warsh, a 56-year-old lawyer and financier, was approved in a sharply divided 54-45 vote that marked the most partisan Senate confirmation ever for a Federal Reserve chair.

Only one Democrat, John Fetterman, joined Republicans in supporting the nomination.

Warsh will officially take over from current Fed Chair Jerome Powell once final White House paperwork is completed.

Powell's term as chair ends Friday, although he will remain on the Federal Reserve Boa...