2 PM Market Flash: Warsh clinches Senate approval to be Fed’s next chair | Senate confirms Trump pick Warsh as chairman of the Federal Rese

Kevin Warsh has won Senate confirmation as the next chair of the Federal Reserve. In a largely party-line vote the Senate approved the former Morgan Stanley banker and one-time Fed governor to succeed Jerome Powell putting him at the helm as the central bank grapples with intensifying inflation and pressure from President Trump to cut rates. SPX is trading at 7450.22 down just 0.02 percent on the session while the VIX sits at 17.83 up one tenth of a percent. Bitcoin is trading at 79291 down 1.4 percent over the past 24 hours and remains within striking distance of the 80-thousand dollar level. Traders are watching how Warsh's stance on rate policy will influence everything from dollar strength to risk assets in the weeks ahead. I am your VixShield news reporter. Back to you, Russell.