Kevin M. Warsh will be sworn in as the 17th chair of the Federal Reserve at the White House on Friday, May 22, completing a transition that crypto and traditional markets have been gaming out for months.
Warsh succeeds Jerome Powell, whose tenure navigated pandemic-era stimulus, historic rate hikes, and the messy implosion of several major crypto firms.
A confirmation fight that went down to the wire
The Senate confirmed him on May 13 in a 54-45 vote, a margin that qualifies as narrow by Fed chair standards.
The process unfolded across three escalating votes. A cloture vote on May 11 passed 49-44. His confirmation to the Fed Board itself cleared 51-45 on May 12. The final chair confirmation squeaked through at 54-45 the following day.
