US Senate Confirms Kevin Warsh as Federal Reserve Governor

Odaily Planet Daily News: The US Senate confirmed Kevin Warsh as a member of the Federal Reserve Board of Governors with a vote of 51 to 45. Pennsylvania Senator John Fetterman was the only Democratic senator to support him. The 56-year-old Kevin Warsh will also face a separate Senate vote to contend for the position of Federal Reserve Chair.

Current Chair Jerome Powell's eight-year term expires this Friday; amid a federal investigation into the renovation project of the Federal Reserve headquarters, Jerome Powell plans to remain on the Board of Governors.

Kevin Warsh has previously held investments in cryptocurrency and blockchain enterprises and has committed to largely completing their divestment. As the Federal Reserve 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 asset field.