Treasury Secretary Optimistic on Warsh Fed Chair Nomination

Bessent says Warsh will be confirmed 'on time' for Senate hearing.

Apr. 15, 2026 at 7:41pm

Got story updates? Submit your updates here. ›

An extreme close-up of the intricate inner mechanisms of a Federal Reserve vault, conveying the complex and secure nature of the nation's financial infrastructure.The Federal Reserve's financial machinery gears up for a new era of leadership as the Trump administration's nominee awaits confirmation.Washington Today

U.S. Treasury Secretary Scott Bessent expressed optimism on Wednesday that Kevin Warsh, President Donald Trump's nominee for Federal Reserve Chair, will be confirmed by the Senate in time for his scheduled hearing on April 21st. Bessent stated that Republican members of the Senate Banking Committee are aligned in support of Warsh's nomination.

Why it matters

Warsh's nomination to lead the Federal Reserve is a key economic policy decision for the Trump administration. The Fed chair plays a crucial role in setting monetary policy and overseeing the nation's financial system, so Warsh's confirmation would signal the administration's direction on issues like interest rates, inflation, and financial regulation.

The details

Bessent, speaking to reporters, said he was confident Warsh would assume the Fed chair role 'on time' for his upcoming Senate hearing. Warsh, a former Fed governor, was nominated by Trump in February to replace current Chair Janet Yellen, whose term expires in early 2018.

  • Warsh's Senate confirmation hearing is scheduled for April 21, 2026.
  • Yellen's term as Fed Chair is set to expire in early 2018.

The players

Scott Bessent

The current U.S. Treasury Secretary, appointed by President Donald Trump.

Kevin Warsh

President Trump's nominee to be the next Chair of the Federal Reserve.

Janet Yellen

The current Chair of the Federal Reserve, whose term is set to expire in early 2018.

Got photos? Submit your photos here. ›

What they’re saying

“He is going to have a hearing on the 21st of this month. He's a great candidate. We know that the Republicans on the Senate Banking Committee are aligned in that.”

— Scott Bessent, U.S. Treasury Secretary

What’s next

The Senate Banking Committee will hold Warsh's confirmation hearing on April 21, 2026. If confirmed, he will assume the role of Federal Reserve Chair, replacing the outgoing Janet Yellen.

The takeaway

Warsh's nomination to lead the Federal Reserve is a key economic policy decision for the Trump administration. Bessent's optimistic comments suggest the administration is confident Warsh will be confirmed in time to take over the role from the outgoing Yellen.