Senate is set to confirm Trump pick Warsh as chairman of the Federal Reserve, following Powell

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Briefing Summary

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NEWSAR · AI

The Senate is poised to confirm Kevin Warsh as the new chairman of the Federal Reserve, a Trump appointee, following the end of Jerome Powell's tenure as chair. Warsh's confirmation faced recent hurdles due to a Justice Department investigation into Powell, which has since been dropped. He assumes leadership of the central bank during a challenging economic period marked by rising inflation, internal divisions within the Fed's interest rate committee, and past threats to the institution's independence from President Trump. Warsh, a former Fed official, is expected to be confirmed by the Senate on Wednesday afternoon.

Confidence 0.90Sources 3Claims 5Entities 12

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Article analysis

Model · rule-based

Framing

Political Strategy

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Key claims

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President Trump has repeatedly attacked Powell for not cutting interest rates.

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The Fed's interest rate-setting committee saw the most dissenting votes in over three decades last month.

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Inflation has topped the Fed's 2% target for five years and is now rising faster.

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Warsh's confirmation was thrown into doubt due to an investigation into Fed Chair Jerome Powell.

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The Senate is set to confirm Kevin Warsh as chairman of the Federal Reserve.

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Full report

2 min read · 320 words

Kevin Warsh testifies during his nomination hearing to be a member and chairman of the Federal Reserve Board of Governors before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington Tuesday, April 21, 2026. (AP Photo/Jose Luis Magana) 2026-05-13T14:55:28Z Washington (AP) — The Senate on Wednesday is set to confirm President Donald Trump’s nominee to lead the Federal Reserve, Kevin Warsh , bringing new leadership to the world’s most powerful central bank at a fraught moment for the global economy . Warsh’s confirmation was thrown into doubt in recent months after Republican Sen. Thom Tillis of North Carolina said he would block the nomination while the Justice Department investigated Fed Chair Jerome Powell. The Powell probe was dropped in April, clearing the way for the Senate to confirm Warsh. Warsh, 56, a former top Fed official, is becoming chair at an unusually difficult time for the independent agency. Inflation has topped the Fed’s 2% target for five years and is now rising faster because of spiking gas prices . The Fed’s interest rate-setting committee is divided and saw the most dissenting votes in more than three decades last month. And Powell, after years of personal attacks from the Republican president and an unprecedented legal investigation by the Justice Department, plans to stay on the Fed’s board even after his term as chair ends, potentially creating a competing power center. The Senate is expected to vote on Warsh’s confirmation on Wednesday afternoon, a day after approving his nomination to the Fed’s Board of Governors. Pennsylvania Sen. John Fetterman was the lone Democrat to side with Republicans in confirming him to the board. The Fed has faced numerous threats to its independence from Trump, who has repeatedly attacked Powell for not cutting interest rates. Trump also sought to fire Fed governor Lisa Cook and launched an investigation into brief Senate testimony by Powell on a building renovation. (

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