The Senate voted 49-44 Monday to move toward a final vote on Warsh’s nomination to serve on the Fed board, with Sens. John Fetterman (D-PA) and Chris Coons (D-DE) joining Republicans. A separate procedural vote on his nomination to chair the board is expected Tuesday.
Sens. Michael Bennet (D-CO), Steve Daines (R-MT), Bill Hagerty (R-TN), Cindy Hyde-Smith (R-MS), Ashley Moody (R-FL), Lisa Murkowski (R-AK), and Pete Ricketts (R-NE) all did not vote.
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KEVIN WARSH SET UP FOR FAILURE WITH POWELL STAYING ON AND MARKETS EXPECTING RATE HIKE
Warsh, 56, is set to replace Fed Chairman Jerome Powell, who Trump has publicly lambasted for refusing to bow to pressure from the White House to lower interest rates. Warsh had his nomination advanced through committee last month after his nomination hearing before the Senate Banking, Housing, and Urban Affairs Committee.
Warsh previously served on the Fed’s Board of Governors from 2006 to 2011,
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