The United States Senate on Wednesday confirmed Kevin Warsh as the next Chair of the Federal Reserve, completing a two-day confirmation sequence that had already installed him on the Board of Governors and clearing the final procedural hurdle to his taking over from Jerome Powell. Warsh, nominated by President Donald J. Trump on 4 March 2026, will be sworn in as Chair on 22 May 2026.

The Senate first voted on 12 May 2026 to confirm Warsh as a member of the Board of Governors, then returned the following day to approve him as Chair. Under the terms of the appointment, his term as Chair runs to 21 May 2030, while his separate term as a Board member extends to 31 January 2040, giving him a mandate that spans well beyond a single chairmanship.

SWEARING-IN SCHEDULED FOR 22 MAY

Warsh is due to take the oath of office as both Chair and Board member on 22 May 2026. On the same day, the Federal Open Market Committee is scheduled to meet and unanimously select him as its Chairman, formally handing him the gavel that guides the setting of the federal funds rate and the operation of the Fed's balance sheet.

The choreography mirrors the standard pattern for a new Fed Chair, whose authority over the FOMC derives not from Board membership alone but from a separate vote of the Committee itself. The unanimous nature of that expected selection points to a smooth internal transition even as Warsh inherits a policy stance shaped by his predecessor.

Warsh, a former Fed Governor between 2006 and 2011, had been widely floated in Washington as a candidate for the top job in successive administrations. His return to the Board caps a lengthy period in the private sector and academia and gives President Trump a Chair of his own choosing at the head of the central bank.

SUCCEEDING POWELL AFTER TWO TERMS

The confirmation brings to a close the chairmanship of Jerome Powell, who has led the Fed since February 2018 through two full four-year terms spanning the pandemic response, the post-pandemic inflation surge and the subsequent tightening cycle. Powell steps down as Chair when Warsh is sworn in, though he had signalled that he would not seek to remain on the Board beyond the end of his chair term.

For Warsh, the immediate task is to establish his voice within the Committee ahead of the next scheduled FOMC meeting. Market participants will look for early signals on how the new Chair intends to communicate the policy outlook and whether the Committee's language on rates and reserves shifts under his leadership.

The White House framed the appointment as a return to what it has described as a more rules-based approach to monetary policy. In practice, Warsh will inherit an institution that has spent the past several years navigating the trade-offs between price stability and the labour market mandate, and his first public remarks as Chair are expected on the day of his swearing-in. The dual term structure, with the chairmanship running to 21 May 2030 and the underlying Board seat to 31 January 2040, means Warsh could remain at the central bank well beyond his first stint at the helm even if he is not reappointed as Chair at the end of the initial four-year term.