The US Senate voted mostly along party lines to advance Kevin Warsh’s nomination to the Federal Reserve Board of Governors.
The 49-44 vote included two Democrats, Sens. Chris Coons of Delaware and John Fetterman of Pennsylvania, supporting Warsh. No Republicans voted against the nomination.
A separate vote to have Warsh succeed Jerome Powell as chairman of the central bank is expected to occur by Wednesday. Powell’s term as chairman expires on May 15, and he stated that he would remain on the board of governors in a term that expires in January 2028.
The arrival of Warsh to the board of governors and Powell’s decision to continue serving as a Fed governor will result in the departure of Stephen Miran from the board. Miran was nominated to serve out the remainder of Adriana Kugler’s term after her resignation last summer.
Photo courtesy of the Hoover Institution
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