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U.S. Senate Banking Committee Advances Kevin Warsh’s Federal Reserve Chair Nomination

According to the latest report, the committee approved Kevin Warsh in a 13-11 vote, while Jerome Powell said the chair nominee would lead the FOMC ahead of Powell’s May 15 term end.

Fact Check
Reuters' April 29, 2026 report directly states that the Senate Banking Committee approved Kevin Warsh's Federal Reserve chair nomination by a 13-11 vote and sent it to the full Senate. The same Reuters report says Jerome Powell's term as chair ends May 15. Search results from the official Senate Banking Committee site show an April 29 executive session and an April 25 minority statement about the upcoming vote, which support the timeline and existence of the committee action. The only notable limitation is that a primary Senate page confirming the final tally was not successfully fetched in this run.
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Summary

The U.S. Senate Banking Committee advanced Kevin Warsh’s nomination for Federal Reserve Chair in a 13-11 vote, sending it to the full Senate before Jerome Powell’s term ends on May 15. The available reports add that Warsh has pledged to shrink the Federal Reserve’s $6.7 trillion balance sheet and overhaul inflation management, while Jerome Powell said the chair nominee would serve as chair of the FOMC, the Fed’s main rate-setting body. Because the Federal Reserve Chair oversees U.S. monetary policy and broader liquidity conditions, the nomination is being closely watched across traditional financial markets and digital asset markets.

Terms & Concepts
  • Federal Reserve: The central bank of the United States, responsible for monetary policy, interest rates, and financial system stability.
  • FOMC: The Federal Open Market Committee is the U.S. Federal Reserve’s policy-setting body that decides interest rates and other key monetary measures.
  • Monetary policy: Central bank actions that manage interest rates, money supply, and liquidity to influence inflation, employment, and broader economic activity.