US Senate Confirms Kevin Warsh as Federal Reserve Board Member

OdailyOdaily Planet Daily News: The U.S. Senate confirmed Kevin Warsh to the Board of Governors of the Federal Reserve by a vote of 51 to 45. Pennsylvania Senator John Fetterman was the only Democrat to support him. Warsh, 56, will also face a separate Senate vote to compete for the position of Fed Chair.

The eight-year term of current Chair Jerome Powell expires this Friday; Powell plans to remain on the Board while a federal investigation into the Fed headquarters renovation project is underway.

Kevin Warsh has previously held investments in cryptocurrencies and blockchain companies and has committed to substantially divesting them. As the Fed considers regulatory rules related to stablecoins, bank crypto asset custody, and digital payment systems, this background makes him a senior Fed figure familiar with the digital assets field.