Senate Confirms Kevin Warsh as Fed Governor; Chair Vote This Week

The Senate confirmed Kevin Warsh as a Federal Reserve governor in a 51–45 vote Tuesday and voted to invoke cloture on his nomination to lead the central bank, setting up a possible final confirmation vote later this week.

Most Senate Republicans supported Warsh; Democratic Sen. John Fetterman joined them. The cloture vote advanced consideration of Warsh’s nomination for a four-year term as Fed chair.

Warsh’s appointment as a governor will run through 2028. He previously served on the Federal Reserve Board from 2006 to 2011. If confirmed as chair, he would replace Jerome Powell, whose current chair term ends Friday.

Warsh has discussed digital assets in public appearances and filings. In a 2025 interview, he described Bitcoin as “transformative” and called it “an important asset that can help inform policymakers.” His financial disclosures include holdings tied to cryptocurrency and investments related to artificial intelligence.

Democrats on the Senate Banking Committee questioned whether Warsh would be able to maintain independence from the president’s policy agenda if confirmed as chair.

The cloture vote came as the Senate Banking Committee prepared to mark up the Digital Asset Market Clarity Act, known as CLARITY. Committee leaders released the bill text, which includes a compromise provision on stablecoin yield. The committee is scheduled to hold a markup on Thursday that could move the bill toward a full Senate vote.

Market participants have been monitoring the nominations and the CLARITY process for potential effects on interest-rate expectations and financial regulation.

The Senate’s action on Tuesday advances Warsh’s bid for the Fed chair but does not conclude the process; a final Senate vote on the chair nomination is expected following the cloture vote.