Kevin Warsh confirmed as next Federal Reserve chair in 51-49 vote

Kevin Warsh, a former Federal Reserve governor and longtime adviser to several presidents, was confirmed by the United States Senate on Wednesday as the next chair of the central bank. The 51-49 vote was the closest margin since the chair role required Senate confirmation, with several Republicans joining all Democrats in opposition.

Warsh, 56, will succeed Jerome Powell when his current term ends. He served at the Fed during the 2008 financial crisis and has been a vocal critic of recent monetary policy, arguing the central bank kept rates too low for too long. President Trump nominated him in March, citing the need for what he called a tougher approach to inflation.

The confirmation comes as the Fed faces pressure from the White House to cut interest rates more aggressively, even as inflation remains above the 2% target. Warsh has signaled he favors a steady, data-dependent approach but is open to revisiting the Fed's framework. Markets reacted modestly, with Treasury yields ticking higher after the vote.