Kevin Warsh Should Soon Be Confirmed to Lead the Fed

Fed Chair Jerome Powell’s second four-year term ends May 15th, and Senate hearings for incoming Fed Chair Kevin Warsh are nearing a positive conclusion.

WASHINGTON, DC - APRIL 21: Kevin Warsh, U.S. President Donald Trump's nominee for Chair of the Federal Reserve, is sworn in to testify during his Senate Committee on Banking, Housing, and Urban Affairs confirmation hearing in the Dirksen Senate Office Building on April 21, 2026 in Washington, DC. President Trump nominated Warsh, a former member of the Federal Reserve Board of Governors, to replace Jerome Powell amid bipartisan concerns over the Justice Department's criminal investigation into the central bank’s current leader. Photo by Andrew Harnik/Getty Images

Commentary

Fed Chair Jerome Powell’s second four-year term ends May 15th, and Senate hearings for incoming Fed Chair Kevin Warsh are nearing a positive conclusion, despite some comic moments – like the time when Senator Elizabeth Warren called Warsh a “sock puppet” for President Trump. Warsh responded calmly about the importance of maintaining an independent Fed, but we know Warsh is not a fan of quantitative easing and he plans to shrink the Fed’s balance sheet. I’d say Kevin Warsh will likely be confirmed soon.