Senate set to vote on Kevin Warsh’s nomination to Federal Reserve Board of Governors, ahead of Fed chair vote The US Senate is set to vote Tuesday on Kevin Warsh’s nomination to serve as a governor on the Federal Reserve Board, the first step in a two-step process that would…
ke him the next chairman of the central bank. The Senate would next vote on Wednesday to confirm Warsh as chair, just two days before current Fed Chair Jerome Powell’s term expires
Warsh will take the seat of Fed Governor Stephen Miran, who was appointed to serve out the remaining term of former Governor Adriana Kugler. She departed the central bank last August, five months before her term ended, amid an ethics probe. That seat is the only one scheduled to become vacant during the rest of President Trump’s term in office.
Powell has opted to remain on the Fed board for an indeterminate period, breaking with the usual precedent for departing chairs. His term as governor is not up until January 2028. Jerome Powell’s 17 most memorable moments after leading the Federal Reserve for 8 eventful years This leaves few avenues for Trump to name another appointee to the powerful board that sets interest rate policy.