Kevin Warsh’s confirmation positions him to replace Jerome Powell amid debates over inflation and digital asset regulation.
The Senate confirmed Kevin Warsh to the Federal Reserve Board of Governors in a 51-45 vote, with only one Democratic senator supporting him. Warsh, a former Fed governor and crypto-linked investor, now awaits a separate vote to become Fed chair as Jerome Powell’s term ends Friday.
Warsh’s past investments in blockchain and digital asset firms have drawn attention as the Fed considers rules on stablecoins and crypto custody. Powell plans to remain on the board during a federal probe into Fed headquarters renovations, despite stepping down as chair.
Markets are watching closely as Warsh’s potential leadership could shift the Fed’s approach to monetary policy and digital asset oversight. His confirmation as chair is expected Wednesday, pending Senate approval.