Donald Trump · US Senate · Kevin Warsh · Federal Reserve (FED) · Jerome Powell · Iran · CoinDesk
Senate confirms Kevin Warsh to Fed board ahead of expected Chair vote
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The Senate confirmed Kevin Warsh to the Federal Reserve Board of Governors on Tuesday, moving President Donald Trump’s pick one step closer to becoming the next chair of the U.S. central bank.
Key facts
- The holdings included exposure to firms connected to Bitcoin infrastructure, Layer 1 and Layer 2 blockchain networks and prediction markets
- If confirmed as chair, Warsh, 56, will replace Jerome Powell, whose eight-year term leading the Fed ends Friday
- The Senate confirmed Kevin Warsh to the Federal Reserve Board of Governors on Tuesday, moving President Donald Trump’s pick one step closer to becoming the next chair of the U.S. central bank
- The former Morgan Stanley banker has drawn attention for his ties to the crypto industry
Summary
The Senate confirmed Kevin Warsh to the Federal Reserve Board of Governors in a 51-45 vote, with Sen. Warsh, 56, faces a separate Senate vote to become Fed chair as Jerome Powell’s eight-year term ends Friday, though Powell plans to remain on the board during a federal probe into Fed headquarters renovations. Warsh’s past investments in crypto and blockchain firms, which he has pledged largely to divest, position him as a Fed leader familiar with digital assets as the central bank weighs rules on stablecoins, bank crypto custody and digital payment systems. Warsh still must win a separate Senate vote to become Fed chair, which is expected Wednesday.