Senator John Fetterman (D-PA) has announced his intention to support Kevin Warsh, nominated by President Donald Trump, to take on the role of chair for the Federal Reserve.
During an interview with Semafor, Fetterman confirmed his commitment to voting in favor of Warsh when the nomination reaches the Senate floor. This decision follows Senator Thom Tillis (R-NC) moving to push Warsh’s nomination forward from the Senate Banking Committee after a prolonged pause.
Warsh, who previously served as a Federal Reserve governor from 2006 to 2011, was chosen to succeed Jerome Powell as Fed chair earlier this year. In his confirmation hearing held on April 21, he addressed monetary policy and his experience during the 2008 financial crisis.
On Wednesday, the Senate Banking Committee voted along party lines, 13-11, to move Warsh’s nomination to the full Senate. All Republican senators were in favor, while their Democratic counterparts opposed it.
Initially hesitant due to a Justice Department investigation linked to Powell, Tillis later expressed confidence that the inquiry would not persist. He commended Warsh’s credentials, referring to him as an “excellent” nominee.
Fetterman’s endorsement introduces a rare bipartisan dynamic to the upcoming floor vote, expected to occur shortly. Confirmation requires a simple majority in the Republican-led Senate.
Currently, Fetterman stands as the sole Democrat backing the nominee publicly.
Warsh’s confirmation is crucial as Powell’s term concludes on May 15. If approved by that date, Warsh would assume office shortly thereafter and begin a 14-year term on the Board of Governors.
Powell will continue his tenure as a governor until January 2028, and his future in that position remains uncertain following the end of his chairmanship.
