Senate Confirms Kevin Warsh As Fed Governor, Final Chair Vote Still Pending
The Senate voted 51-45 on Tuesday, May 12, 2026, to confirm Kevin Warsh as a Federal Reserve governor, clearing the path for a separate vote to make him Fed chair.[1]
Warsh was confirmed to a 14-year governor term that runs through 2040 and will occupy the seat previously held by Stephen Miran.[1] That confirmation is a prerequisite for a separate Senate vote later this week to make him Fed chair when Jerome Powell's chair term ends Friday, May 15, 2026.[1]
Stephen Miran's Fed term ended in January 2026, but he remained on the board until a successor was confirmed.[1] Miran chaired the White House Council of Economic Advisers and he dissented at recent Federal Open Market Committee meetings in favor of deeper, faster rate cuts.[1] Warsh served on the Fed from 2006 to 2011 and later worked at the Hoover Institution and for investor Stanley Druckenmiller.[1] Reporting says his net worth exceeds $100 million and that he is married into the Lauder family.[1] At his April confirmation hearing, Warsh pledged to act independently on interest-rate decisions and said President Trump had not asked him to predetermine rates.[1]
Some outlets had highlighted political obstacles to Warsh's confirmation, with Fox News calling the nomination "once doomed" before Tuesday's vote.[2]
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📌 Key Facts
- On Tuesday, May 12, 2026, the Senate voted 51-45 to confirm Kevin Warsh to a 14‑year term as a Federal Reserve governor.
- Warsh’s governor term runs until 2040 and his confirmation clears the way for a separate Senate vote later that week to make him Fed chair, replacing Jerome Powell when Powell’s chair term ends Friday, May 15, 2026.
- Warsh will occupy the Board seat previously held by Stephen Miran, whose term ended in January 2026 but who remained until his successor was confirmed.
- Stephen Miran had chaired the White House Council of Economic Advisers, dissented in favor of deeper and faster rate cuts at recent Federal Open Market Committee meetings, and took a leave from the White House for his brief Fed tenure.
- The article notes Warsh’s prior Fed service from 2006–2011 and subsequent work with the Hoover Institution and investor Stanley Druckenmiller, and reports his net worth exceeds $100 million and that he is married into the Lauder family.
- The piece reiterates Warsh’s pledge at his April 2026 confirmation hearing that he will act independently on interest‑rate decisions and that President Trump has not asked him to predetermine rates.
📰 Source Timeline (2)
Follow how coverage of this story developed over time
- On Tuesday, May 12, 2026, the Senate voted 51-45 to confirm Kevin Warsh to a 14-year term as a Federal Reserve governor.
- Warsh will occupy the Board seat previously held by Stephen Miran, whose term ended in January 2026 but who remained until his successor was confirmed.
- Miran, who had chaired the White House Council of Economic Advisers and dissented in favor of deeper and faster rate cuts at all recent Federal Open Market Committee meetings, took a leave from the White House for his brief Fed tenure.
- Warsh’s new governor term runs until 2040 and is a prerequisite for a separate Senate vote later this week on making him Fed chair to replace Jerome Powell when Powell’s chair term ends Friday, May 15, 2026.
- The article adds biographical detail on Warsh’s prior 2006-2011 Fed service, post-Fed work for the Hoover Institution and investor Stanley Druckenmiller, and notes his net worth exceeding $100 million and marriage into the Lauder family.
- The piece reiterates Warsh’s pledge at his April 2026 confirmation hearing that he will act independently on interest-rate decisions and that President Trump has not asked him to predetermine rates.