WASHINGTON — The Senate has confirmed former Federal Reserve governor Kevin Warsh to a new 14-year term on the Federal Reserve Board, positioning him for an expected vote to become the next chair of the central bank.
Warsh, who previously served on the Fed board during the 2008 financial crisis, had emerged as President Donald Trump’s preferred choice to lead the central bank amid ongoing debates over inflation, interest rates and the economic fallout from tensions in the Middle East.
The Senate confirmation vote followed weeks of partisan debate over the future direction of monetary policy and the Fed’s independence. Democrats raised concerns about political pressure on the central bank, while Republicans argued the economy needs a new approach as the administration pushes for stronger growth and lower borrowing costs.
Critic of Fed
Warsh served as a Fed governor from 2006 to 2011 and later became a fellow at Stanford University’s Hoover Institution. He has frequently criticized the Fed’s handling of inflation and argued policymakers were too slow to respond to rising prices in recent years.
The confirmation comes as the administration faces mounting economic and geopolitical pressures, including instability tied to the Iran conflict and uncertainty surrounding global trade.
A separate Senate vote on whether to elevate Warsh to Fed chair is expected in coming days. If approved, he would replace current Chair Jerome Powell at the end of Powell’s term.
