The Senate voted 54–45 to confirm Kevin Warsh as the new head of the Federal Reserve. Senator John Fetterman (D-PA) was the only Democrat to support Warsh.
Warsh’s confirmation comes one day after the Senate voted 51–45 to approve his nomination.
President Trump nominated Warsh for the role in January. “I am pleased to announce that I am nominating Kevin Warsh to be the CHAIRMAN OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM. Kevin currently serves as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution, and Lecturer at the Stanford Graduate School of Business,” he wrote on Truth Social at the time. “He is a Partner of Stanley Druckenmiller at Duquesne Family Office LLC. Kevin received his A.B. from Stanford University, and J.D. from Harvard Law School.”
“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” he added. “On top of everything else, he is ‘central casting,’ and he will never let you down. Congratulations Kevin!”
Federal Reserve Chair Jerome Powell’s term expires on May 15. The Department of Justice recently closed its investigation of Powell.
“This morning the Inspector General for the Federal Reserve has been asked to scrutinize the building costs overruns – in the billions of dollars – that have been borne by taxpayers,” District of Columbia U.S. Attorney Jeanine Pirro announced said in April. “The IG has the authority to hold the Federal Reserve accountable to American taxpayers.”
