Senate Moves to Approve Kevin Warsh for Fed Chair Role

TLDR The US Senate is scheduled to vote at 3:00 PM EST on confirming Kevin Warsh as the next Federal Reserve Chair. The Senate Banking Committee approved Kevin Warsh’s nomination in a 13-11 vote on April 29, 2026. The full Senate voted 49-44 on May 12 to invoke cloture and advance his nomination to a final vote. Kevin Warsh previously served as a Federal Reserve Governor from 2006 to 2011. If confirmed, Warsh will replace Jerome Powell when his term ends on May 15, 2026. Prediction markets priced a 93.5% probability of Warsh’s confirmation before the final vote. The US Senate will vote at 3:00 PM EST to confirm Kevin Warsh as Federal Reserve Chair. Lawmakers expect approval after earlier procedural votes advanced his nomination. If confirmed, Warsh will replace Jerome Powell when his term ends on May 15, 2026. Senate Advances Kevin Warsh Nomination Toward Final Approval The Senate scheduled a final confirmation vote after clearing cloture on May 12. Lawmakers voted 49-44 to end debate and move forward. Earlier, the Senate Banking Committee approved Kevin Warsh in a 13-11 vote on April 29. Warsh previously served as a Federal Reserve Governor from 2006 to 2011. He joined the Board at age 35 and became its youngest member. Now, senators will decide whether he returns to lead the central bank. The nomination drew political debate over Federal Reserve independence. Some lawmakers raised concerns about executive influence on monetary policy. However, Senate leaders moved the process forward without delay. President Donald Trump publicly supported Warsh’s nomination. Trump urged lawmakers to back the candidate during recent statements. Senate leaders did not announce any changes to the voting schedule. Prediction markets reflected strong expectations of confirmation before the vote. Traders priced a 93.5% chance of approval by May 15. Those odds held steady in the hours before the scheduled vote. Jerome Powell will conclude his term as Chair on May 15, 2026. The White ...