Senate Banking Committee Approves Warsh Fed Chair Nomination, Sending It to Full Senate Vote

Key Takeaways The US Senate Banking Committee voted on April 29 to advance Kevin Warsh's nomination as Federal Reserve Chairman to the full SenateThe committee approval marks a significant step toward confirming Warsh as Jerome Powell's successor ahead of Powell's chair term expiration in MayPolymarket had priced a 43% probability of Warsh being confirmed before May 15 prior to the committee vote The US Senate Banking Committee voted on April 29 to advance Kevin Warsh's nomination as Federal Reserve Chairman to the full Senate floor, clearing a critical procedural hurdle in the confirmation process as the clock runs down on Jerome Powell's tenure as chair. The committee approval comes one week after Warsh's confirmation hearing on April 21 and moves the nomination to a full Senate vote, the final step before Warsh can be confirmed as the next Fed chair. Powell's term as chair expires in May, creating urgency around the confirmation timeline as markets watch closely for any leadership vacuum at the central bank.