Kevin Warsh Confirmed to Fed Board, Poised for Chair Role

The US Senate has confirmed Kevin Warsh to the Federal Reserve Board of Governors in a 51-45 vote. The move is seen as the final procedural step before Warsh, a former Fed governor from 2006 to 2011, is elevated to Fed Chair.

President Donald Trump has nominated Warsh to succeed Jerome Powell, whose term ends May 15, 2026. A criminal investigation into Powell has cast uncertainty over the central bank's leadership.

Prediction markets now price Warsh's confirmation as Fed Chair by May 15 at 99.2% YES, up from 98%. The likelihood of Powell being removed as Chair before May 14 stands at just 0.7% YES.