Kevin Warsh replaces Jerome Powell after pledging to overhaul Fed communication and reduce political influence.
The US Senate confirmed Kevin Warsh as Federal Reserve chair by a 54-45 vote, securing his four-year term to succeed Jerome Powell. Warsh, a former Fed governor, criticized the central bank’s transparency and political ties during confirmation hearings, vowing “regime change.”
Powell, who led the Fed for eight years, will remain on the Board of Governors. Warsh previously served on the Fed board from 2006 to 2011, engaging with global economies and overseeing operational functions. His first policy meeting is scheduled for June 16-17.
Warsh’s appointment follows his tenure as a White House economic advisor under President George W. Bush, where he shaped policy from 2002 to 2006. Analysts anticipate a shift in Fed communication strategy under his leadership.