Senate Panel Advances Kevin Warsh as Fed Chair Nominee

The Senate Banking Committee voted along party lines to advance Kevin Warsh's nomination as Federal Reserve chair to the full Senate. The Republican-controlled Senate is expected to confirm Warsh, a former Fed governor known for his market-friendly views. The vote was 13-11, with all Republicans in favor and all Democrats opposed. Warsh's nomination has been a priority for the Trump administration, which seeks to reshape the central bank's leadership. If confirmed, Warsh will succeed Jerome Powell, whose term as chair expires in May 2026. Warsh has criticized the Fed's recent rate cuts and advocated for a more rules-based monetary policy. Democrats have raised concerns about his potential to undermine the Fed's independence. The full Senate vote is expected in the coming weeks.