WASHINGTON— The Senate Banking Committee said Tuesday it will hold a nomination hearing on April 21 for Kevin Warsh, President Trump’s pick to become the next chairman of the Federal Reserve, setting up the next key step in a confirmation process that now has less than a month before Jerome Powell’s current term as chair expires in mid-May.
The White House formally sent Warsh’s nomination to the Senate on March 4, naming him both to a four-year term as Fed chair and to a 14-year term as a member of the Board of Governors. CUToday reported at the time that the move made official what Trump had first signaled in January and noted that Warsh, a former Fed governor from 2006 to 2011, would take over at a time when the Administration had been pressing the central bank to move more aggressively on rates.
CUToday also reported in March that credit union trade groups moved quickly to engage the nomination. America’s Credit Unions President and CEO Scott Simpson said Warsh’s prior experience on the Fed board and in economic advisory roles could help guide policy at a time when affordability pressures remain a major concern, while the Defense Credit Union Council said defense credit unions and military families rely on a “stable, transparent, and effective” central bank.
As of Tuesday, the Federal Reserve’s website still listed Powell as chair of both the Board of Governors and the 2026 FOMC.