“The Senate should not be aiding and abetting Donald Trump's illegal takeover of the Fed by installing his chosen sock puppet as chair. At this unprecedented moment in the Fed's history, he is uniquely unqualified to lead the agency.
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Senate Confirms Kevin Warsh as Fed Chair in Closest Vote in Modern Era
May 13, 2026
The Senate confirmed Kevin Warsh as Chairman of the Federal Reserve on May 13, 2026, in a 54-45 vote — the narrowest margin for a Fed chair in the modern era of Senate confirmations (since 1977). Warsh replaces Jerome Powell, whose term expires May 15. The confirmation came in two steps: the Senate first confirmed Warsh as a Fed Board Governor (51-45) on May 12, then as Chairman (54-45) on May 13. Sen. John Fetterman (D-PA) was the only Democrat to cross the aisle in both votes; Sen. Chris Coons (D-DE) voted yes on the governor confirmation but not the chair vote. President Trump has repeatedly pressured the Fed to lower interest rates and once declared that "anybody that disagrees with me will never be the Fed Chairman." Democrats warned the confirmation would give Trump effective control over the central bank. Warsh pledged at his April 2026 hearing to be "an independent actor" and said the president never asked him to commit to any specific rate decision.
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“Kevin Warsh is battle-tested and brings the necessary experience from his time as a Federal Reserve Governor during the Great Recession. Confirming Kevin Warsh will make sure that affordability is at the center of our economic agenda.
“It is difficult to trust that any Chair of the Federal Reserve selected by this president will be able to act with the independence required of the position, knowing that this administration will levy charges against any leader who makes interest rate decisions based on facts and the needs of our economy rather than Trump's personal preferences.