Kevin Warsh Wins 49-44 Senate Vote on May 11; Expected to Replace Powell on May 15

The U.S. Senate voted 49–44 on May 11 to advance Kevin Warsh's nomination as Federal Reserve chair, clearing a key procedural hurdle. The vote allows the Senate to proceed with separate confirmations on his 14-year term as a Fed governor and his four-year term as chair. If confirmed, Warsh is expected to replace Jerome Powell when Powell's leadership term ends on May 15, 2026. The Senate is expected to vote on Warsh's governor nomination as soon as May 12, with a final vote on his chair nomination potentially following on May 13.

Warsh's expected confirmation comes as April consumer price index data showed headline inflation rising 0.6% monthly to 3.8% annually, above the 3.7% consensus estimate. Core inflation reached 2.8% year-over-year. The hotter-than-expected inflation data adds complexity to the Fed's policy outlook and may reduce near-term expectations for rate cuts, creating a more challenging backdrop for Warsh's potential early weeks as chair.