Written by Turner Wright, Staff Writer. Reviewed by Robert Lakin, Staff Editor. 
Written by Turner Wright, Staff Writer. 
Reviewed by Robert Lakin, Staff Editor. Senate confirms Kevin Warsh as Federal Reserve governor, with chair vote expected
Latest NewsPublishedMay 12, 2026The US Senate voted largely along partisan lines to confirm Kevin Warsh as a member of the Fed's Board of Governors, despite many Democrats’ concerns about the central bank’s independence.
The US Senate has approved Kevin Warsh as the newest governor of the Federal Reserve, with a vote on his confirmation as chair of the central bank expected this week.
In a 51 to 45 vote in the US Senate on Tuesday, lawmakers sided on party lines, with the exception of Democratic Senator John Fetterman, to approve President Donald Trump’s nominee. The chamber immediately followed by approving a motion to invoke cloture on a vote for Warsh as the next Fed chair, setting up a potential vote soon.
Source: US Senate
The vote confirmed Warsh as a Fed governor for 14 years, and is expected to lead to lawmakers voting on his nomination for a four-year term as Fed chair. He previously served as a Fed governor under former US Presidents George W. Bush and Barack Obama from 2006 to 2011.
Jerome Powell, whose term as Fed chair ends on Friday, has faced Trump's repeated threats to fire him. His term as a Fed governor will continue until 2028, but the shakeup in the leadership of the US central bank has the potential to move markets amid concerns over changing interest rates and the Fed’s independence from the White House’s policies.
Related: Federal Reserve chair nominee's disclosure includes crypto and AI holdings
Warsh said in a 2025 interview that Bitcoin (BTC) was a “transformative” technology and “an important asset that can help inform policymakers.” During his confirmation hearing in the Senate Banking Committee, however, many Democrats questioned whether as Fed chair he could remain independent from the president’s policy agenda.
Crypto market structure bill markup scheduled for Thursday
The vote on the nomination came the same week that US lawmakers on the Senate Banking Committee will choose whether to advance a digital asset market structure bill expected to change oversight and regulation of cryptocurrencies. On Monday, the panel's leadership released the text of its version of the Digital Asset Market Clarity Act (CLARITY), that included a compromise provision on stablecoin yield that had long been a sticking point for many in the crypto and banking industries.
On Thursday, the banking committee will hold a markup on CLARITY, potentially setting the bill up for a vote in the full Senate.
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Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.More on the subject
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