New York Post
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Could rates drop soon? Senate confirms Powell replacement #shorts
Posted
May 13, 2026
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May 13, 2026
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0:12Now PlayingKevin Warsh was confirmed as the next Federal Reserve chairman on Wednesday — even as surging inflation has begun to box the central bank into one of its toughest corners in years.
The Senate on Wednesday voted 54-45 to elevate President Trump’s pick to Fed chairman, with Sen. John Fetterman (D-Pa.) the only Democrat to cast a vote in his favor. A day earlier, lawmakers approved Warsh to a 14-year term on the Fed’s Board of Governors in a narrow 51-45 vote.
Warsh is expected to replace outgoing Chair Jerome Powell by the end of the week — inheriting an economy where inflation is heating up again even as President Trump pushes for lower borrowing costs.
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#senate #powell
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