Senate advances Kevin Warsh nomination

Kevin Warsh’s path to the Federal Reserve chairmanship moved in two formal steps over two weeks: a Senate Banking Committee vote on April 29 and a full Senate confirmation on May 13. President Donald Trump nominated Warsh on March 4 to serve both as a member of the Board of Governors and as chair for a four-year term, according to White House nomination papers. The Senate voted 54-45 on May 13 to confirm Warsh as chair of the Board of Governors of the Federal Reserve System, according to the official roll call. Senate Banking Committee Chairman Tim Scott said after the vote that Trump had made “an excellent choice,” while Democrats led by Senator Elizabeth Warren had argued Warsh was the wrong pick for the job. (banking.senate.gov) Warsh is not new to the central bank. The Federal Reserve said he served as a governor from 2006 until his resignation in 2011, a period that included the 2008 financial crisis. Before that, the Fed said, he worked at Morgan Stanley and later became a White House economic aide. ### How did Warsh’s nomination move through the Senate? The White House sent Warsh’s nomination to the Senate on March 4, 2026, for a four-year term as chair and a 14-year term as a board member. (senate.gov) The Senate Banking Committee then scheduled a nomination hearing for April 21 and an executive session to vote on April 29. The committee’s action was the gatekeeping step before a floor vote. (federalreserve.gov) After that process, the full Senate took up nomination PN855-1 and confirmed Warsh on May 13 at 1:59 p.m., the Senate record shows. ### What did Warsh tell senators at his hearing? Warsh told senators on April 21 that he owed the president, Congress and the country his “best judgment and most faithful efforts” in carrying out the Fed’s mission of price stability and full employment. (whitehouse.gov) In his prepared testimony, he described the moment as one of “great consequence” for the U.S. economy and said the American people were “counting on the Fed to deliver on its commitments.” (banking.senate.gov) His testimony also stressed his prior service inside the institution. Warsh said he was “particularly alert to the challenges and opportunities” facing the Fed because he had served as a governor and had known the last five Fed chiefs. ### Why did Republicans back him? Tim Scott used the April 21 hearing to cast Warsh as an experienced hand for a period of economic strain. (banking.senate.gov) Scott said Warsh’s prior service during the financial crisis and his experience navigating “major economic challenges” made him suited for the role. Scott also said Fed decisions affect “what families pay for groceries, housing, and how far their paychecks go,” framing the nomination around inflation and household costs. (banking.senate.gov) After the May 13 confirmation, Scott said Warsh’s elevation was “an important step toward restoring confidence and credibility at our central bank.” (banking.senate.gov) ### What were Democrats’ objections? Elizabeth Warren opened the April 21 hearing by saying, “We should not be having this hearing today.” She argued Trump had tried to pressure the Fed and said Warsh was “uniquely ill-suited for the job.” Warren also tied her opposition to Warsh’s record during and after the 2008 financial crisis. (banking.senate.gov) She said in her opening statement that Warsh had told her he had “no regrets” about his actions during that period. ### What happens next at the Fed? The Senate’s May 13 vote completed the chamber’s action on Warsh’s nomination as chair, with the official record listing nomination PN855-1 as confirmed. (banking.senate.gov) The White House papers identify his chairmanship as a four-year term and his board nomination as a separate 14-year term from February 1, 2026. The next formal milestone is Warsh’s installation to lead the Board of Governors. (banking.senate.gov) The Senate’s confirmation record dated May 13 and the White House nomination documents provide the operative terms for that transition. (senate.gov 1) (senate.gov 2)