The Senate Banking Committee has advanced Kevin Warsh's nomination as the next chair of the Federal Reserve with a 13-11 vote along party lines. The decision, made on April 29, 2026, sends Warsh's nomination to the full Senate, where confirmation is anticipated before Jerome Powell's term ends on May 15. Warsh, a former Federal Reserve Board member, has been nominated by President Trump to replace Powell, advocating for significant changes in Fed policy. Republican Sen. Thom Tillis lifted his hold on the vote after the Department of Justice closed its investigation into Powell, clearing the way for the committee's decision. Warsh, known for his criticism of recent Fed policies, has signaled intentions for a "regime change" at the central bank, focusing on inflation framework adjustments and balance-sheet management. If confirmed, Warsh could assume the role as early as mid-May, marking a significant shift in Fed leadership under Trump's administration.
Senate Panel Advances Kevin Warsh's Nomination for Fed Chair
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