Senate Confirms Kevin Warsh as Next Fed Chair

The Senate confirmed Kevin Warsh as the next Chair of the Federal Reserve on Wednesday, May 13, 2026, amidst a backdrop of resurgent inflation. The vote, which was expected to pass, comes as the U.S. economy faces challenges that will require the new chair's immediate attention. Warsh, a former Fed governor, will succeed Jerome Powell, who will remain on the board of governors. The confirmation process was contentious, with Senate Majority Leader Chuck Schumer expressing concerns about presidential interference in the Fed's independence. Despite the political climate, stock markets rallied, with the S&P 500 and NASDAQ 100 reaching record highs.