APRIL 25, 2026

Senate schedules April 29 confirmation vote for Kevin Warsh as Federal Reserve chair

The Senate Banking Committee has scheduled a confirmation vote for Kevin Warsh to become Federal Reserve chair on Wednesday, April 29. The vote was cleared after the Department of Justice dropped its investigation into current chair Jerome Powell over spending related to Fed building renovations. Sen. Thom Tillis (R-NC), who had placed a hold on the nomination pending that development, said he would vote for Warsh following the DOJ's announcement.

The Senate Banking Committee posted notice of the April 29 confirmation vote for Kevin Warsh shortly after U.S. Attorney for Washington, D.C., Jeanine Pirro announced Friday that her office would drop its probe into Powell. Pirro said the Inspector General's office would take up an inquiry into the Fed's building renovation spending — which has grown to an expected $2.5 billion — and that the DOJ would restart the investigation if the IG's report provided justifying information.

Sen. Elizabeth Warren (D-MA), ranking member of the Senate Banking Committee, said the DOJ's move did not adequately protect the Fed's independence. Warren wrote that the DOJ's spokeswoman had indicated the investigation "still continues" and that a separate probe into Fed Governor Lisa Cook remained active. Warren described Warsh as "nothing more than President Trump's sock puppet," based on his performance at his nomination hearing, and said no senator claiming to care about Fed independence should support advancing his nomination.

Warsh's confirmation is expected to pass. At his Senate hearing Tuesday, Warsh pledged independence from White House pressure but said relatively little about the direction he would take interest rates. President Trump has publicly said he expects rates to fall once Warsh takes office, telling Fox Business, "when Kevin gets in, I do ... interest rates should be much lower."