Kevin Warsh, President Donald Trump’s nominee for Federal Reserve chair, advanced through the Senate Banking Committee in a 13–11 party-line vote, moving toward full Senate confirmation before Jerome Powell’s term ends May 15. The nomination had been delayed over a DOJ probe into Fed building renovation costs, later paused after assurances it would not be reopened without a criminal referral. Senator Thom Tillis supported the move, citing Fed independence concerns. Senator Elizabeth Warren oppos

Kevin Warsh, President Donald Trump’s nominee for Federal Reserve chair, advanced through the Senate Banking Committee in a 13–11 party-line vote, moving toward full Senate confirmation before Jerome Powell’s term ends May 15. The nomination had been delayed over a DOJ probe into Fed building renovation costs, later paused after assurances it would not be reopened without a criminal referral. Senator Thom Tillis supported the move, citing Fed independence concerns. Senator Elizabeth Warren opposed it, warning of political control and “stagflation” risks.