{"id":49503,"date":"2026-04-29T20:20:16","date_gmt":"2026-04-29T17:20:16","guid":{"rendered":"https:\/\/mk.gen.tr\/warsh-moves-to-closer-to-fed-chair-confirmation-advancing-in-senate-committee-vote\/"},"modified":"2026-04-29T20:20:16","modified_gmt":"2026-04-29T17:20:16","slug":"warsh-moves-to-closer-to-fed-chair-confirmation-advancing-in-senate-committee-vote","status":"publish","type":"post","link":"https:\/\/mk.gen.tr\/en\/warsh-moves-to-closer-to-fed-chair-confirmation-advancing-in-senate-committee-vote\/","title":{"rendered":"Warsh moves to closer to Fed chair confirmation, advancing in Senate committee vote"},"content":{"rendered":"

Kevin Warsh, President Donald Trump\u2019s nominee to serve as the 17th Federal Reserve<\/strong> chair, cleared the Senate <\/strong>Banking Committee on Wednesday in a 13-11 vote, moving him closer to confirmation before current Fed Chair Jerome Powell\u2019s term expires May 15.<\/p>\n

Warsh\u2019s advancement came just hours before the Federal Open Market Committee<\/strong> (FOMC) finishes its two-day meeting and is expected to keep benchmark rates steady between 3.5% to 3.75%.<\/p>\n

The earliest the full Senate could vote on Warsh\u2019s nomination is the week of May 11, according to Reuters.<\/p>\n

The Associated Press reported that Sen. Tim Scott (R-S.C.), chair of the Senate Banking Committee, said Warsh is \u201cbattle tested\u201d and stressed the importance of breaking \u201cthe bind of Bidenomics on households across this nation.\u201d<\/p>\n

Sen. Elizabeth Warren<\/a> (D-Mass.) said that Warsh\u2019s nomination \u201cwill bring the president one step closer to completing his illegal attempt to seize control of the Fed and artificially juice the economy.\u201d<\/p>\n

The party-line vote came just a week after Warsh faced rounds of questioning<\/a> from senators at his confirmation hearing. Warsh\u2019s nomination had been delayed by Sen. Thom Tillis (R-N.C.), who pledged to block<\/a> any nominees until the Department of Justice<\/strong>\u2018s probe into Powell<\/a> \u2014 tied to alleged cost overruns on renovations at the Fed\u2019s Washington, D.C., headquarters \u2014 was thrown out.<\/p>\n

Jeanine Pirro, U.S. Attorney for the District of Columbia, announced last Friday that the investigation was being dropped<\/a>.<\/p>\n

Warsh, a former Fed governor and Morgan Stanley<\/strong> banker, is expected to face pressure from Trump on interest rates should he be confirmed. During his confirmation hearing, however, he rejected suggestions that he would bend to political pressure<\/a> on interest rates, telling lawmakers he would not serve as Trump\u2019s \u201chuman sock puppet.\u201d<\/p>\n

During the hearing last week, Democrats pointed to Trump\u2019s repeated public calls for lower rates and questioned whether Warsh\u2019s recent views on monetary policy align too closely with the president\u2019s demands.<\/p>\n

Lawmakers also scrutinized Warsh\u2019s financial disclosures and his more than $100 million in investments, including stakes held through vehicles such as\u00a0The Juggernaut Fund LP<\/strong>\u00a0and\u00a0THSDFS LLC<\/strong>. Warsh said he has agreed with federal ethics officials to divest \u201cvirtually all\u201d of his holdings and move the proceeds into cash or Treasury bills if confirmed.<\/p>\n

Republicans largely defended Warsh and focused on inflation, arguing the Fed made major policy mistakes following the COVID-19 pandemic. Warsh called for \u201cfundamental policy reforms,\u201d including shrinking the Fed\u2019s balance sheet<\/a>, along with relying more heavily on interest rates instead of asset purchases and reducing detailed forward guidance to financial markets.<\/p>\n

The hearing underscored the political pressures surrounding the Fed as Trump<\/a> has publicly demanded lower borrowing costs. Warsh maintained that Trump never sought commitments on future rate decisions and said he would have refused such requests if asked.<\/p>","protected":false},"excerpt":{"rendered":"

Kevin Warsh, President Donald Trump\u2019s nominee to serve as the 17th Federal Reserve chair, cleared the Senate Banking Committee on Wednesday in a 13-11 vote, moving him closer to confirmation before current Fed Chair Jerome Powell\u2019s term expires May 15. Warsh\u2019s advancement came just hours before the Federal Open Market Committee (FOMC) finishes its two-day…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/posts\/49503"}],"collection":[{"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/comments?post=49503"}],"version-history":[{"count":0,"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/posts\/49503\/revisions"}],"wp:attachment":[{"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/media?parent=49503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/categories?post=49503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mk.gen.tr\/en\/wp-json\/wp\/v2\/tags?post=49503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}