New Delhi, May 15 -- With the confirmation of Kevin Warsh as chair of the US Federal Reserve by the Senate, the curtains come down on one of the world's most talked-about appointments.

He takes over on Friday from Jerome Powell, whose term has been both momentous (think covid) and tempestuous (recall his run-ins with US President Donald Trump on rate policy); and at a time when the central bank's independence is being severely tested.

Trump has tried-in vain so far-to exert influence over the Fed. He even pushed for a probe by the US justice department of Powell's handling of a Fed building renovation project. The investigation has since been dropped, most likely to ease Senate approval.

Powell, though, has vowed to stay on at the Fed ...