US Senate Confirms Kevin Warsh as Chair of the Federal Reserve

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 confirmed him as a member of the Board of Governors and clearing the way for him to take over from Jerome Powell. Warsh, nominated by President Donald J. Trump on 4 March 2026, is expected to be sworn in as Chair later this month.

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 will run for four years from his swearing-in, 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 TO FOLLOW

Warsh is due to take the oath of office as both Chair and Board member later this month. The Federal Open Market Committee must then separately select him as its Chairman, as happened for previous chairs.

Warsh previously served as a member of the Fed's Board of Governors from 2006 to 2011.

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's term as Chair ends on 15 May, though he said on 29 April that he would remain on the Board as a governor after his term as Chair ends.

The dual term structure, with a four-year chairmanship and the underlying Board seat running 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.