Senate confirms Kevin Warsh as Fed governor, clearing path to become chair

Published: Tuesday, May 12, 2026 at 4:29 pm

Senate Confirms Kevin Warsh as Fed Governor, Chairmanship Vote Expected

Washington - The Senate has confirmed Kevin Warsh to the Federal Reserve's Board of Governors, paving the way for a potential leadership change at the central bank. The vote, which took place on Tuesday, saw Warsh approved by a margin of 51-45, securing him a 14-year term as one of the Fed's seven governors.

This confirmation is a crucial step in President Trump's efforts to install Warsh as the Fed's chair, replacing the current chair, Jerome Powell. A separate vote to confirm Warsh as chair is expected later this week, as Powell's four-year term ends this Friday.

Warsh is taking the board seat previously held by Stephen Miran, a Trump advisor. Miran's term technically ended in January, but he remained on the board until a successor was confirmed.

Warsh, a former Fed governor from 2006 to 2011, is returning to the central bank after a five-year absence. During his previous tenure, he navigated the global financial crisis. Since leaving the Fed, he has worked as a fellow and advisor. Warsh has been a vocal critic of the Fed, expressing concerns about its policies and communication strategies. He has also indicated openness to lowering interest rates.

The confirmation process was complicated by a criminal probe into Powell's testimony. The investigation, which involved subpoenas, raised concerns among some senators. However, the probe was closed last month, allowing the confirmation process to proceed.

Warsh has pledged to maintain the Fed's independence in setting interest rates. He stated that he would act independently if confirmed as chair.

BNN's Perspective: The confirmation of Kevin Warsh and the potential shift in leadership at the Federal Reserve represent a significant moment. While Warsh's past criticisms of the Fed and his openness to lowering interest rates suggest a potential shift in monetary policy, the Senate's confirmation underscores the importance of maintaining the Fed's independence. The incoming chair will face the challenge of balancing economic growth with the risk of inflation, a delicate task that requires careful consideration of various economic factors.

Keywords: Kevin Warsh, Federal Reserve, Fed, Senate, Jerome Powell, Board of Governors, interest rates, monetary policy, confirmation, chair, economic growth, inflation.

Full Story