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13-11 Senate Vote Advances Warsh, Fed Probe Ends

4/29/2026

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Summary

Story summary

The Senate Banking Committee voted 13-11 along party lines on April 29, 2026, to advance Kevin Warsh’s nomination as Federal Reserve (Fed) chair.
The vote came after the Justice Department ended a criminal probe into Fed Chair Jerome Powell’s headquarters renovation, leading Senator Thom Tillis to drop his objection.
Warsh pledged to set policy independently and said President Donald Trump never asked him to predetermine interest-rate cuts.

History

Historical Context

Alan Greenspan was first nominated as Federal Reserve chair by President Ronald Reagan in August 1987 and reappointed by three successive presidents, serving a 19-year tenure until 2006. In January 2026, President Donald Trump named former governor Kevin Warsh as his next Fed chair nominee, and the Senate Banking Committee advanced the nomination, underscoring the enduring partisan scrutiny of central-bank leadership.

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Story summary

The Senate Banking Committee voted 13-11 along party lines on April 29, 2026, to advance Kevin Warsh’s nomination as Federal Reserve (Fed) chair.
The vote came after the Justice Department ended a criminal probe into Fed Chair Jerome Powell’s headquarters renovation, leading Senator Thom Tillis to drop his objection.
Warsh pledged to set policy independently and said President Donald Trump never asked him to predetermine interest-rate cuts.

1 / 2