Overview
- Warsh, confirmed 51-45 on Tuesday to a 14-year term as a Federal Reserve governor, now awaits a separate vote on a four-year term as chair as soon as Wednesday.
- The Senate also moved to cap debate on his chair nomination, with a final vote expected this week before Jerome Powell’s chair term ends Friday.
- After the Justice Department closed its investigation into Powell in late April, Sen. Thom Tillis lifted his hold on nominees, and Powell says he will remain on the Board for now.
- Warsh has called for “regime change” at the Fed, including a smaller balance sheet, less forward guidance, and closer coordination with Treasury on non‑monetary issues.
- If confirmed as chair, he would likely lead the June 16–17 policy meeting as inflation runs at 3.8% year over year and higher oil prices reduce the odds of rate cuts this year.