Jerome H. Powell
Federal Reserve Chair (outgoing); Chair Pro Tempore
4 articlesMoney
FOMC Minutes Show Four-Way Split at Powell's Final Meeting, Warsh Inherits Divided Committee
Minutes released May 20 from the Federal Reserve's April 28-29 meeting — Jerome Powell's last as chair — show an 8-4 vote to hold rates at 3.5–3.75%, with four dissents pulling in opposite directions. One governor sought an immediate cut while three regional bank presidents opposed even the statement's hint of future easing, a fracture Kevin Warsh will face at his first FOMC meeting June 16-17.
Money
Senate Confirms Warsh as Federal Reserve Chair, 54-45, in Closest Vote of Modern Era
The Senate voted 54-45 on May 13 to confirm Kevin Warsh as Federal Reserve chairman, with Sen. John Fetterman the only Democrat to cross party lines. The confirmation triggers a 90-day divestiture clock on Warsh's private fund holdings, with the deadline falling around August 11, and sets up the first FOMC meeting of his tenure for June 16-17.
Money
Senate Banking Committee Advances Warsh for Fed Chair in First Fully Partisan Vote
Kevin Warsh cleared the Senate Banking Committee 13-11 on April 29 after a contentious hearing where he pledged a regime change in monetary policy and declined to disclose the underlying holdings of more than $100 million in investments, some of which include stakes in regulated banks.
Money
Kevin Warsh Discloses Over $100 Million in Confidential Investments Ahead of Fed Chair Hearing
Trump's Fed Chair nominee filed a 69-page financial disclosure revealing two hedge fund positions worth over $50 million each with undisclosed underlying assets, stakes in SpaceX, Polymarket, and dozens of crypto platforms, and $10.2 million in consulting fees from Stanley Druckenmiller's family office. He would be the wealthiest Fed Chair in history.