Senate confirms Fed chair nominee Kevin Warsh, ending standoff over Powell probe
Summary
The Senate confirmed Kevin Warsh as the new chair of the Federal Reserve by a vote of 54 to 45. Warsh will take over when Jerome Powell's term ends later this week, after a recent investigation into Powell was closed.Key Facts
- Kevin Warsh was confirmed by the Senate to be the next Federal Reserve chair.
- The vote in the Senate was 54 in favor and 45 against.
- Warsh will replace Jerome Powell as Fed chair when Powell’s term ends.
- Investigators recently decided to drop a probe into Jerome Powell.
- The Federal Reserve is the central bank of the United States, which controls monetary policy.
- Warsh testified before the Senate Committee on Banking, Housing, and Urban Affairs in April 2026.
- This confirmation ends a period of uncertainty about the Fed’s leadership.
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