Kevin Warsh was confirmed Wednesday as chair of the Federal Reserve for a four-year term. [Photo/Agencies]
Kevin Warsh was confirmed Wednesday as chair of the Federal Reserve for a four-year term, as financial markets watch US monetary policy amid persistent inflation pressures.
The US Senate voted 54-45 to confirm Warsh, 56, as chairman of the Board of Governors of the Federal Reserve System. Most senators voted along party lines, with only Pennsylvania Democrat John Fetterman backing the nomination.
Warsh, nominated by President Donald Trump in January, will succeed Jerome Powell, whose term as Federal Reserve chair expires on Friday. Powell has led the central bank since 2018 and said he would remain on the Fed's Board of Governors after stepping down as chair.
Warsh's confirmation concludes a lengthy process to select Powell's successor that began in the summer of 2025. Other candidates under consideration included current Federal Reserve governors Christopher Waller and Michelle Bowman. Warsh will serve as the 17th chair of the Federal Reserve.
