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Senate Banking Committee Advances Kevin Warsh's Fed Chair Nomination, 13–11

April 29, 2026 · U.S. Senate Banking Committee GOP · 0:36:02

Embedded from the source channel — never re-uploaded. Watch on YouTube

What happened

The Senate Banking Committee met in executive session on April 29, 2026, on the nomination of Kevin Warsh to serve as a governor of the Federal Reserve Board and as its chairman. The ranking member spoke first against proceeding, arguing the committee should not vote that day: she said inflation is up, job creation is down, and the president is attempting to seize control of the Fed — threatening to fire the chair, attempting to fire a governor, and opening what she called two bogus criminal investigations. She cited statements by the president, his spokeswoman, U.S. Attorney Jeanine Pirro, and Acting Attorney General Todd Blanche indicating the investigation into Chair Powell continues, and pointed to the administration’s effort to fire Governor Lisa Cook, then before the Supreme Court, as she stated it.

She also attacked Warsh directly, calling his tenure as a Fed governor around the 2008 crisis catastrophic, saying he holds more than $100 million in undisclosed financial assets, and that at his hearing he could not say President Trump lost the 2020 election, as she stated it.

The committee then voted en bloc on Warsh as governor for a term expiring in 2040 and as chairman for a four-year term. The roll call was 13 in favor and 11 opposed, advancing the nomination. Senator Tillis, recognized afterward, said he disagreed with everything the ranking member had said, according to the video.

Why it matters

The 13–11 vote is the formal step that moved President Trump’s chosen Fed chair from committee to the full Senate — a party-line advancement taken amid an open fight over the central bank’s independence.

Scoreboard watch

The committee’s 13–11 roll call advancing Warsh — governor term expiring 2040, four-year term as chairman — is the checkable result of this session.

Sources: U.S. Senate Banking Committee GOP, “Banking Committee Executive Session, “Nomination of Kevin Warsh to be Chair of the Federal Reserve””, 2026-04-29 (official upload, embedded above; published 2026-04-29). Transcript via Supadata (private research store, paraphrased and attributed, not republished). All figures and characterizations as stated by the speakers.