Senate Confirms Kevin Warsh as Fed Chair in 54-45 Vote, Replacing Powell
Updated
Updated · Better Markets · May 28
Senate Confirms Kevin Warsh as Fed Chair in 54-45 Vote, Replacing Powell
13 articles · Updated · Better Markets · May 28
A 54-45 Senate vote on May 13 installed Kevin Warsh as the new Federal Reserve chair, ending Jerome Powell’s tenure at the central bank.
Elizabeth Warren urged senators to reject Warsh, arguing his record as a former Fed governor and his approach to monetary policy raised risks to Fed independence from electoral politics.
Better Markets also opposed the nomination, pointing to Warsh’s past statements and actions tied to the 2008 financial crisis.
The confirmation came during a brief but busy two-week May session in which Congress also advanced crypto, market-structure and prediction-market oversight debates.
Will the new Federal Reserve chair's policies finally tame inflation or risk destabilizing the U.S. economy?
With prediction markets blurring lines between finance and gambling, who truly holds regulatory power?
As new laws legitimize crypto, who will protect investors from the industry's inherent volatility and risks?