Kevin Warsh Fed Chair Full Senate Vote Scheduled Week of May 11 — Confirmation Near-Certain Before Powell Exits May 15

The Senate is scheduled to hold a full floor vote on Kevin Warsh's nomination as Federal Reserve Chairman during the week of May 11, 2026 — potentially before Jerome Powell's term expires on May 15. The Senate Banking Committee advanced Warsh on April 29 on a strict 13-11 party-line vote — the first fully partisan confirmation vote for a Fed chair in US history. Warsh's confirmation is nearly certain: Republicans hold 53 seats, the nomination requires a simple majority, and Senator Thom Tillis (R-NC) — who had initially blocked the nomination — agreed to support Warsh after the DOJ dropped a criminal investigation into Powell's conduct. Additionally, Senator John Fetterman (D-PA) announced plans to vote in favor. Warsh, a former Fed governor (2006–2011) and Morgan Stanley investment banker, has signaled openness to rate cuts and closer White House coordination — positions that align with Trump's repeated demands for an 'interest rate reset.' Markets are closely watching whether Warsh will cut rates at his first FOMC meeting, expected in June 2026, which would represent the most politically charged central bank action since the Fed's independence was established. The change in Fed leadership coincides with the Iran war oil shock keeping Brent above $100/barrel, complicating the inflation-growth tradeoff Warsh will immediately face.