The WORST JOB IN WASHINGTON???
Fed chair, with the horrific handoff from the partisan failure, Jerome Powell.
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Kevin Warsh has officially been confirmed as the next Federal Reserve chair, winning Senate approval in a 54-45 vote, the most divided confirmation ever for the role.
Warsh, 56, will replace Jerome Powell, whose term ends Friday, and will take over the central bank as President Donald Trump pushes for lower interest rates while new inflation data makes the path ahead more complicated.
His confirmation ends a months-long search that began in summer 2025. The vote broke almost entirely along party lines, with Pennsylvania Sen. John Fetterman the only Democrat to support him.
Warsh's first Federal Open Market Committee (FOMC) meeting as chair is scheduled for June 16-17. He is also set to become the wealthiest Fed chair in modern history, with reported holdings above $100 million. Under newer ethics rules, he will be required to divest many of his investments before taking the role.
The Senate on Wednesday voted to confirm Kevin Warsh as chairman of the Federal Reserve, marking a victory for President Trump, who has clashed with outgoing Fed chief Jerome Powell repeatedly and urged the central bank to slash interest rates.
The vote was 54-45, with Democratic Sen. John Fetterman of Pennsylvania joining all Republicans in support of Warsh's confirmation.
Warsh's four-year term as Fed chair will begin Friday. Powell has said he will remain a rank-and-file Fed board member for the time being.
Warsh previously served on the Federal Reserve Board of Governors from 2006 to 2011. He then worked as a fellow at Stanford University's Hoover Institution and a partner at billionaire Stanley Druckenmiller's personal investment office.