multi source·7h ago·6 sources analyzed
Senate advances Warsh's nomination for Federal Reserve chair
The Senate Banking Committee has moved forward with the nomination of Kevin Warsh to lead the Federal Reserve. Jerome Powell, the current chair, described his tenure as a privilege during his final press conference. (sources: ft, nbcnews, aljazeera, cbsnews, pbs)
Image: cbsnews
ModernAction Briefing
The Senate Banking Committee approved Kevin Warsh's nomination to succeed Jerome Powell as chair of the Federal Reserve. Powell will continue in his role until Warsh's confirmation.
- Kevin Warsh's nomination was advanced by the Senate Banking Committee on a party-line vote.
- Jerome Powell stated that serving as Fed chair has been a privilege during his last press conference.
- Bond investors are preparing for potential volatility during the transition to a new Fed chair.
Why it matters
The leadership change at the Federal Reserve could impact monetary policy and market stability.
No specific legislation identified for action yet.
Top coverage · 6 sources
ftBond investors brace for ‘volatile’ Fed transition as Powell stays onnbcnewsJerome Powell calls his time as Fed chair a 'privilege' during last press conferencealjazeeraSenate panel advances Kevin Warsh’s nomination for US Fed chaircbsnewsSenate committee set to vote on Kevin Warsh's nomination for Fed chair