Fed Approves Warsh as Future Chair

Kevin Warsh Confirmed as Fed Governor, Poised to Succeed Powell

• Kevin Warsh has been confirmed by the U.S. Senate as a Federal Reserve Governor.
• The market predicts a 97.8% probability of Warsh’s confirmation as Fed Chair by May 15.
• A cloture vote on Warsh’s nomination for Fed Chair is scheduled for Wednesday.
• Jerome Powell will remain a governor, maintaining influence during the leadership transition.
• Warsh plans policy shifts, including tighter coordination with the Treasury and reducing the Fed’s balance sheet.

The confirmation of Kevin Warsh as a Federal Reserve Governor sets the stage for his likely succession of Jerome Powell as Fed Chair, with market odds strongly favoring his confirmation by May 15.