One person sure to be happy by Wednesday’s news: Donald Trump. The president is no fan of outgoing Federal Reserve Chairman Jerome Powell, who has been reluctant to lower interest rates and has overseen massive cost overruns with his renovation project.
Putting a smile on Trump’s face: the last day of “Too Late” Powell’s term is Friday, and the president’s pick to take over, Kevin Warsh, was confirmed by the Senate Wednesday afternoon.
Kevin Warsh has been confirmed as the 17th leader of the Federal Reserve, becoming America's economist-in-chief at a moment of resurgent inflation, public discontent with the economy and unprecedented attacks on the Fed's independence.
Driving the news: Warsh was confirmed to a four-year term as Fed chair Wednesday by a 54-to-45 Senate vote. He received unanimous support from Republicans but only one "aye" vote from a Democrat, John Fetterman of Pennsylvania.
🚨 BREAKING — IT'S OFFICIAL: Kevin Warsh has been CONFIRMED by the US Senate to be the next Chairman of the Federal Reserve, 54-45
— Nick Sortor (@nicksortor) May 13, 2026
Jerome Powell is DONE! 🔥
President Trump's going to wake up in Beijing a happy man — if he even bothered going to sleep 😆 pic.twitter.com/XxfgB6l6Tq
MORE: Bessent Sounds Off on Jerome Powell: Staying at Fed 'Flies in Face of Tradition'
Trump's Fed Chair Pick Has Fun at Elizabeth Warren's Expense at Confirmation Hearing
Powell plans to stay long past his welcome, however, and will stay on the Board indefinitely.
As RedState’s Susie Moore reported in January, Warsh has a long resume:
…Warsh’s background includes work in finance, government, and academia; he holds a law degree and previously was a key liaison between the Fed and financial markets during the 2008 crisis. Markets, policymakers, and lawmakers are watching the nomination closely, as it reflects Trump’s influence on monetary policy and could signal a shift in the Fed’s approach to interest rates under new leadership.
Senate Majority Leader John Thune (R-SD) strongly endorsed the pick:
The decisions the Fed makes affect Wall Street, Main Street, and kitchen tables across the country.
— Leader John Thune (@LeaderJohnThune) May 13, 2026
We must have people who understand not only the global economy and the markets, but who also appreciate hardworking Americans, their jobs, and their livelihoods.
Kevin Warsh is… pic.twitter.com/OIGMBgfIkm
The decisions the Fed makes affect Wall Street, Main Street, and kitchen tables across the country.
We must have people who understand not only the global economy and the markets, but who also appreciate hardworking Americans, their jobs, and their livelihoods.
Kevin Warsh is that person.
As we reported, Treasury Secretary Scott Bessent is questioning why Powell would stay on the Board. Is he just hanging around to kneecap Warsh? The secretary tweeted in late April:
It is unusual for soon-to-be-former Fed Chair Jay Powell to stay on at the @federalreserve. For someone who speaks so often of norms, his unilateral ecision to stay flies in the face of tradition.
Powell may still haunt the hallways, but he’s no longer the top dog. It’s Warsh's gig now, and starting Friday, it’s a new day at the Fed.
Editor’s Note: Thanks to President Trump’s leadership and bold policies, America’s economy is back on track.
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