Kevin Warsh Confirmed as Fed Chair, Lawmakers Split Over Independence and Inflation Fight

Kevin Warsh has been confirmed as the next chair of the Federal Reserve, a move that sparked sharply divided reactions in Washington over inflation, affordability, and the central bank's independence. The Senate approved Warsh on May 13 by a 54–45 vote, almost entirely along party lines. Sen. John Fetterman (D-PA) was the lone Democrat to vote yes. A day earlier, on May 12, senators confirmed Warsh to a full 14-year term on the Fed's Board of Governors by a 51–45 vote, completing the two-step process. Warsh is set to replace Jerome Powell, whose term as chair ends May 15. Powell has said he intends to remain on the Board of Governors until his separate term as governor expires in January 2028. Republican leaders welcomed the confirmation as a chance to re-center the Fed's focus on inflation and its core mandate. House Financial Services Committee Chairman French Hill (R-AR) congratulated Warsh and praised his experience, arguing that a more disciplined approach to monetary policy could help rebuild confidence and support long-term price stability. House Budget Committee Chairman Jodey Arrington (R-TX) called Warsh serious and experienced, citing his background in fiscal, monetary, and economic policy and describing him as a conservative economist and financial markets expert who has criticized recent Fed missteps, institutional overreach, and mission creep. Democrats opposing the nomination pointed to the risk of political influence. Sen. Mark Warner (D-VA) said his concerns centered on whether Warsh could withstand political pressure and protect the Fed's institutional credibility, framing the issue as one of long-term economic stability rather than Warsh's qualifications. Warner said he hoped Warsh would prove those concerns unfounded by clearly defending the Fed's independence. Warsh's confirmation moved forward after a federal investigation tied to Powell was closed in April. Earlier this year, Sen. Thom Tillis (R-NC) had threatened to block consideration of the nomination during the dispute.