Kevin Warsh confirmed as Fed chair by narrowest Senate margin
The US Senate has confirmed Kevin Warsh, Donald Trump's nominee for Federal Reserve chair, by the narrowest margin since the role required a Senate vote. Bond markets responded by pushing long-dated yields higher.
Kevin Warsh has been confirmed as the next chair of the US Federal Reserve, winning Senate approval by the narrowest margin since the position required a confirmation vote. The BBC reports it is the slimmest endorsement any Fed chair has received under the modern process.
Warsh previously served on the Fed's board during the 2026-2007 financial crisis. Much of the opposition centred on questions over his policy independence and his close working relationship with the White House.
Treasury Secretary Scott Bessent told CNBC he expects 'substantial disinflation' as Warsh takes over. Bond markets, however, are already testing the incoming chair: long-dated Treasury yields rose on the day of the vote, according to a MarketWatch analysis.
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