Senate votes to confirm Kevin Warsh as Fed chairman
By Easton Martin | May 13, 2026
The United States Senate voted on Wednesday to confirm Kevin Warsh as the next chairman of the Federal Reserve. The 54 to 45 vote secures a major shift for the nation’s central bank as it prepares for a change in leadership at the end of the week.
Warsh will succeed Jerome Powell, whose term as chair officially expires this Friday. The confirmation follows a separate vote on Tuesday where the Senate approved Warsh for a 14-year term on the Board of Governors. This marks a return to the central bank for the 56-year-old financier, who previously served on the board from 2006 to 2011.
The final tally was largely divided along party lines. Senator John Fetterman of Pennsylvania stood out as the only Democrat to vote in favor of the nominee. Republican leadership celebrated the result as a necessary step toward economic stabilization.
Senate Banking Committee Chairman Tim Scott stated that the confirmation represents a move toward restoring confidence in the financial system.
Warsh assumes leadership at a time of significant economic volatility. Persistent inflation and the ongoing conflict in Iran have complicated the path for monetary policy. Market analysts are watching closely to see how the new chairman will navigate the divide within the Federal Open Market Committee, where members remain split on the direction of interest rates.
