He’s out, thank God. The days of Jerome Powell, who kept messing with the economy by refusing to cut interest rates—long overdue—are gone. He’s gone. Kevin Warsh was confirmed to replace him (via NYT):
54-45, KEVIN WARSH CONFIRMED AS FEDERAL RESERVE CHAIR IN SENATE VOTE
— NewsWire (@NewsWire_US) May 13, 2026
BREAKING: Kevin Warsh has been confirmed by the U.S. Senate in a 54-45 vote to become the next chairman of the Federal Reserve. pic.twitter.com/nvjrghCiJJ
— Breaking911 (@Breaking911) May 13, 2026
The Senate on Wednesday confirmed Kevin M. Warsh to become the next chair of the Federal Reserve, marking the start of a new era for an institution that President Trump has repeatedly attacked for not lowering interest rates as aggressively as he would like.
Mr. Warsh, whom Mr. Trump nominated for the top job at the central bank, was approved on a 54-45 vote. He will replace Jerome H. Powell, whose term as chair ends May 15. All but one Democrat in the upper chamber voted against Mr. Warsh, reflecting lingering concerns about his willingness to uphold the longstanding political independence of the central bank.
Mr. Trump has taken direct aim at that autonomy since returning to the White House last year. He is currently embroiled in a legal fight with Lisa D. Cook, a Fed governor he tried to fire over unsubstantiated allegations of mortgage fraud. The issue has since been taken up by the Supreme Court, which is expected to issue an opinion before its current term ends in July.
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The process to confirm Warsh began yesterday when the Senate voted to confirm him to sit on the board of governors.
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