Kevin Warsh wins Senate confirmation as the next Federal Reserve chair
Warsh won confirmation as the 17th Fed chair in a 54-45 vote as inflation climbed to 3.8%, complicating Trump’s push for lower rates.
- On Wednesday, May 13, 2026, the U.S. Senate confirmed Kevin Warsh as the next Chairman of the Federal Reserve, a move that signals a potential "regime change" for American monetary policy under the Trump administration.
- The Senate voted 54-45 to install Warsh as chair. The confirmation was largely partisan, with all Republicans present voting in favor and Senator John Fetterman serving as the lone Democrat to cross party lines to support the nomination.
- Warsh’s elevation was finalized through two separate votes. On Tuesday, he was confirmed to a full 14-year term on the Fed’s Board of Governors. Wednesday's vote specifically appointed him to the four-year term as Chairman.
- Warsh will officially take the gavel on May 14, 2026, when Jerome Powell’s term as chair expires. However, in a break with 75 years of precedent, Powell has announced he will remain on the Board of Governors as a regular member until at least 2028 to oversee the conclusion of a DOJ investigation into Fed headquarters renovations.
- Known historically as an "inflation hawk," Warsh recently signaled an openness to the President's calls for lower interest rates and a reduction of the Fed's "bloated" balance sheet. He begins his term as inflation sits at 3.8% and amid intense pressure from the White House to spur economic activity.
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Powell will remain a member of the Federal Open Market Committee and will make monetary policy decisions. Warsh has the lowest support in the history of the position.
Senate confirms Kevin Warsh as Federal Reserve chair, but rate cuts remain an open question
The Senate confirmed Kevin Warsh as the next chairman of the Federal Reserve on Wednesday, handing President Donald Trump a long-sought victory on one of his most consequential nominations. The vote was 54-45, largely along party lines, with Pennsylvania Sen. John Fetterman the only Democrat to break ranks and support the pick. Warsh’s confirmation ends...
Trump’s latest unlucky appointment is already 'cooked': analysis
Bulwark Economics Editor Catherine Rampell says the ally that President Donald Trump worked so hard to place over the federal Reserve is already hanging off a tailspin — and he hasn’t even taken a seat.“In economics, there’s a concept called the ‘winner’s curse.’ It means that the person who ends up winning an auction has often overpaid for the prize. It’s a good way of characterizing the fate of the newly confirmed Federal Reserve chair, Kevin …
Trump Gets Kevin Warsh But Powell Won't Leave the Board
Only one Democrat voted to confirm Kevin Warsh—John Fetterman of Pennsylvania. The 54-45 vote on Wednesday was the slimmest confirmation margin ever for the head of the central bank, reflecting the polarized politics in Congress. It also shows that Democrats fear that Warsh will bend to President Donald Trump’s demands to rapidly lower interest rates. Lowering rates would make Trump look good and improve the economy. The incoming chairman’s vote…
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