Kevin Warsh clears major Senate hurdle on path to Federal Reserve chairmanship
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President Donald Trump’s next pick to lead the nation’s central bank is one step closer to securing the job, despite fears that his nomination will end.
The Senate has confirmed that Kevin Warsh is on the Board of Governors of the Federal Reserve, the central bank’s governing body, a position he has served for nearly two decades. The agency controls the nation’s monetary policy and has been a thorn in Trump’s side during his second term.
Tuesday’s successful vote was the first step in Republicans’ bid to confirm Warsh as the next chairman of the Federal Reserve. And it comes as current Chairman Jerome Powell’s term in office comes to an end on May 15.
IT HAS BEEN SURVIVED BY NEW, PAINFUL STRATEGIES AS THE FEAR OF ANOTHER GOVERNMENT GROWS.
Kevin Warsh, the incoming chairman of the US Federal Reserve, called the digital currency issued by the government “a bad policy choice.” (Graeme Sloan/Bloomberg via Getty Images)
The Senate is expected to finalize Warsh’s confirmation on Wednesday.
It’s a very quiet end to a process that was marred by months of high-profile drama, legal wrangling and speculation about whether Trump’s chosen successor to Powell would actually survive the process.
That’s because until recently, Sen. Thom Tillis, RN.C., vowed to block any nomination unless the Justice Department dropped its criminal investigation into Powell.
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President Donald Trump speaks during a military Mother’s Day ceremony in the East Room of the White House in Washington, DC, on May 6, 2026. (Yuri Gripas/Abaca/Bloomberg)
That investigation, which ended late last month amid pressure from top Senate Republicans, was related to allegations of mishandling of funds to rebuild the Federal Reserve headquarters in Washington, DC, and was played out despite Powell’s expected exit this month.
Speculation arose about whether the investigation was launched as an attempt to retaliate against Powell, who has refused to comply with Trump’s wishes to lower interest rates as the central bank navigates rising inflation and new economic pressures from the Iran war.
Although Powell’s time in the spotlight as chairman of the Federal Reserve is coming to an end soon, he’s not going anywhere. He told reporters last month that when his term ends he will remain on the Board of Directors.
ONE LINE IN WARSH’S TESTIMONY THAT SIGNALS A REST IN THE FED’S STATUS.
President Donald Trump nominated Jerome Powell to lead the Federal Reserve in 2017. (Al Drago/Bloomberg via Getty Images)
“I plan to keep a low profile as governor. There has only ever been one chairman of the Federal Reserve Board. If Kevin Warsh is confirmed and sworn in, he will be that chairman,” Powell said.
Warsh’s vision for the Federal Reserve is one that would preserve the independence of the central bank while moving away from meddling in political and social issues.
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“The Fed needs to stay the course,” Warsh said during testimony before a Senate banking panel last month. “Feeder independence is at great risk if it deviates from financial and social policies where it does not have the authority or expertise.”
Warsh needed all the Republican votes he could get, as the Democrats scrutinized his finances and the lack of financial disclosure related to his wife, Jane Lauder, great wealth, and considered him a “sock puppet” of Trump’s economic vision instead of a force to reverse if necessary.
