Kevin Warsh has been confirmed as the next Chair of the U.S. Federal Reserve, succeeding Jerome Powell. The transition is considered a near-certainty in financial markets, with prediction models showing a 99% probability that Powell will step down by June 30, 2026.
Warsh, who served as a Fed governor from 2006 to 2011, is known for his strong support of central bank independence and a more measured approach to reducing the Fed's balance sheet. His nomination by President Donald Trump was advanced by the Senate Banking Committee, led by Senator Tim Scott.
Market participants are now closely watching for official statements from the Fed regarding Powell's resignation and any preliminary policy indications from Warsh that might signal shifts in monetary strategy.