The Senate on Wednesday confirmed Kevin Warsh as the next chair of the Federal Reserve, setting up a new era at the central bank as the White House intensifies pressure for lower interest rates.
Lawmakers voted 54-45 to approve Warsh in a largely party-line decision, with only Sen. John Fetterman breaking ranks with Democrats to support the nomination. He will succeed Jerome Powell, whose term ends Friday after leading the Fed since 2018.
The confirmation caps a months-long search that began in mid-2025 and featured a crowded field of contenders, including current Fed governors.
President Donald Trump has repeatedly pushed for faster rate cuts, putting Warsh under immediate scrutiny as inflation data continues to complicate the case for easing monetary policy.
Warsh is expected to take office as one of the most closely watched Fed chairs in recent history, with markets bracing for a potential shift in the central bank’s policy direction.
This is a breaking news story. Please check back for updates.
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