US Senate confirms Kevin Warsh as Federal Reserve chair, replacing Jerome Powell

[BumRushDaShow]

Source: The Guardian

Wed 13 May 2026 14.49 EDT


The US Senate confirmed Kevin Warsh as chair of the Federal Reserve, one of the most powerful roles in the federal government that holds enormous sway over the economy.

The 54-45 Senate vote on Wednesday was split along party lines, with the exception of Democratic senator John Fetterman from Pennsylvania, who joined the Republican majority. Warsh was confirmed for a four-year term as chair and a 14-year appointment on the Fed’s rate-setting board.

Warsh will officially step into the role on 14 May, when the term of outgoing Fed chair Jerome Powell ends. He is taking over leadership of the Fed at a time when the central bank faces immense pressure from the Trump administration to lower rates, even as inflation climbs and war in the Middle East continues.

The Fed sets interest rates, which determines the cost of borrowing money. Higher interest rates typically cool spending and prices, at the risk of higher unemployment. Lower interest rates can boost the economy but also raise prices.

Read more: https://www.theguardian.com/business/2026/may/13/kevin-warsh-federal-reserve-chair

[niyad]

1. As expected, I see.

[Multichromatic]

2. It's so nice to have a new Federal Reserve chair that was in the DOJ Epstein files.

Kevin Warsh definitely totally didn't attend ANY of the Epstein parties he was invited to...

https://www.cnn.com/2026/03/19/economy/kevin-warsh-trump-hurdles-fed-chair

[hadEnuf]

3. Just another piece of shit being confirmed into Trump's criminal junta.

And the Republican party gleefully votes to enable Trump every. single. time. without question.

That's where the real problem lies.

[bucolic_frolic]

4. Why don't Dems ever appoint their own Fed chairs???

To my recollection, Clinton reappointed Greenspan, Obama reappointed Bernanke, Biden reappointed Powell.

Powell has been a damn good, transparent choice who's run things by the data and told us what it meant.

But to my question "Why don't Dems ever appoint their own Fed chairs???"

[Polybius]

5. ...

The 54-45 Senate vote on Wednesday was split along party lines, with the exception of Democratic senator John Fetterman from Pennsylvania, who joined the Republican majority.

As soon as I read that it was 54-45, I knew who the one Democratic vote was.