Chicago – May 13, 2026
Kevin Warsh was confirmed by the U.S. Senate as the 17th chair of the Federal Reserve in a 54–45 vote, succeeding Jerome Powell whose term ends this week. The confirmation, largely along party lines with Democratic Sen. John Fetterman joining Republicans, follows Warsh’s earlier approval to the Fed’s Board of Governors and completes President Trump’s selection to lead the central bank.
Warsh, 56, returns to the Fed after a career in finance and government and has signaled support for a more rate-cut–friendly stance than his predecessor, arguing for changes in how the Fed measures inflation and communicates policy, positions that drew sharp questioning during confirmation hearings.
Lawmakers and markets will watch his stewardship closely as inflation remains elevated and the Fed faces competing pressures from the White House to lower rates and from some economists to maintain restrictive policy.
Warsh’s first Federal Open Market Committee meeting as chair is scheduled for June 16–17, marking the start of his four-year term leading the central bank amid a politically charged backdrop and scrutiny over central-bank independence.
