US Senate · Federal Reserve (FED) · Kevin Warsh · Bitcoin · Crypto Briefing
Kevin Warsh’s Fed nomination clears first Senate vote
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The hawkish former Fed governor moved one step closer to a board seat, and crypto markets are already pricing in what that could mean for monetary policy.
Key facts
- In 2022, when the Fed began its aggressive rate-hiking campaign, Bitcoin fell from nearly $48K in January to under $17K by November
- Warsh served as a Fed Governor from 2006 to 2011, a tenure that spanned the global financial crisis and its messy aftermath
- Bitcoin slipped roughly 2% to $92K following the announcement
- Jerome Powell’s term as Fed Chair runs through May 2027, and Warsh is widely viewed as the leading candidate to succeed him
Summary
The US Senate voted to advance Kevin Warsh’s nomination to the Federal Reserve Board of Governors, clearing a procedural hurdle that puts him on track for a full confirmation vote expected later this week. Warsh served as a Fed Governor from 2006 to 2011, a tenure that spanned the global financial crisis and its messy aftermath. Jerome Powell’s term as Fed Chair runs through May 2027, and Warsh is widely viewed as the leading candidate to succeed him. The cloture vote was streamed live on YouTube, drawing around 13,000 viewers.