Warsh Wins Key Senate Committee Vote to Be Next Fed Chair

• Kevin Warsh's Fed Chair nomination passed a key hurdle in the Senate Banking Committee with a 13-11 vote.
• The nomination will proceed to the full Senate floor, but a vote is expected to be delayed until the second week of May due to ongoing budget and FISA surveillance law discussions, as well as an upcoming Senate vacation.
• Despite potential delays, the timeline allows for Warsh to take office by May 15th, coinciding with Jay Powell's departure.

Kevin Warsh's nomination to be the next Federal Reserve Chair successfully cleared a key hurdle, passing the Senate Banking Committee vote. While the nomination now moves to the full Senate floor, a vote is anticipated to be delayed until the second week of May due to other legislative priorities and an upcoming recess, though this timeline still allows for Warsh to take office by May 15th.