WASHINGTON (AP) — The Senate confirmed President Donald Trump’s nominee to lead the Federal Reserve, Kevin Warsh , bringing new leadership to the world’s most powerful central bank at a fraught moment for the global economy .

Warsh, 56, a former top Fed official, was confirmed Wednesday in a largely party-line 54-45 vote and will replace Jerome Powell as chair at an unusually difficult time for the independent agency.

Inflation has topped the Fed’s 2% target for five years and is now rising faster because of spiking gas prices . The Fed’s interest rate-setting committee is divided and saw the most dissenting votes in more than three decades last month.…