The U.S. Senate confirms Waller’s appointment to the Federal Reserve Board of Governors, initiating the chair confirmation procedure

According to CoinTelegraph’s report on May 13, the U.S. Senate on Tuesday formally confirmed Kevin Warsh as a Federal Reserve (the Fed) governor, by a vote of 51 in favor and 45 against, for a 14-year term. The Senate then passed a motion immediately to initiate the confirmation process for Warsh to become Chair of the Fed (a four-year term), with the Chair’s confirmation vote potentially held as early as May 13 local time.

Details of the Governor Confirmation Vote and Warsh’s Background

According to the report, this vote largely followed party lines, with Democratic Senator John Fetterman being the only Democratic lawmaker who voted in favor. Warsh will succeed former governor Stephen Miran, whose term had already expired. Miran had previously served as a Fed governor from 2006 to 2011, spanning the administrations of former U.S. Presidents George W. Bush and Barack Obama.

At the confirmation hearing, several Democratic lawmakers raised questions in the Senate Banking Committee about whether Warsh could remain independent from the President’s policy agenda while serving as Fed Chair. According to Warsh’s public interviews in 2025, he said that Bitcoin (BTC) is a “transformative” technology and an “asset that can help policymakers make important decisions.”

Background on Powell’s Stepping Down

According to the report, the current Fed Chair Jerome Powell’s term as Chair will officially end on May 16, 2026 (Friday), while his term as a Fed governor will continue until 2028. During Powell’s term, he repeatedly faced threats from U.S. President Trump to be dismissed.

Related Legislation: CLARITY Act Reviewed by the Committee Same Week

According to the report, in the same week, the U.S. Senate Banking Committee will vote on the Digital Asset Market Transparency Act (the CLARITY Act) on May 14, 2026 (Thursday). The committee released an updated 309-page draft on May 11, which includes compromise provisions regarding stablecoin yield rates; if the committee passes the bill, it will move to the full Senate voting process.

FAQs

What are the vote result and timing for the U.S. Senate’s confirmation of Warsh as a Fed governor?

According to the report, on May 12, 2026 (Tuesday), the U.S. Senate approved the confirmation by a vote of 51 in favor and 45 against. Warsh’s 14-year governor term starts from February 1, 2026, and Democratic Senator John Fetterman is the only Democratic lawmaker who voted in favor.

How is the confirmation process for Warsh to become Fed Chair progressing?

According to the report, on May 12, 2026, the Senate passed a motion to begin the confirmation process for Warsh to become Fed Chair (a four-year term). The Chair’s confirmation vote could take place as early as May 13, 2026 (Wednesday).

When does the current Fed Chair Jerome Powell’s term end?

According to the report, Powell’s term as Fed Chair will officially end on May 16, 2026 (Friday). His term as a Fed governor will continue until 2028.