Kevin Worsh, Fed Chairman starting May 16?

Jerome Powell’s term as Fed chairman ends on Friday, May 15, and Donald Trump nominated Kevin Warsh to replace him at the beginning of the year. But ultimately, it is the U.S. Senate that confirms or rejects the president’s choice, and the entire process must be followed, particularly within the Senate Banking Committee.

In order to obtain final approval for Kevin Wash’s appointment, several stages must be adhered to, some of which may stand in the way of his appointment. To be confirmed in time for taking office on May 16, opposition will have to be very limited, but that’s not certain yet.

In detail, the first stage was successfully passed without any major difficulties. The presidential nomination was quickly approved and officially sent to the Senate, putting the nomination on the institutional track. However, ethics and financial audits, while advanced, remain a sore point, particularly around asset disclosures and potential conflicts of interest related to his previous positions in the private sector.

The real political test now comes in the Senate Banking Committee hearings. This stage is critical because it allows senators to question the nominee’s vision for monetary policy, stance on inflation, and independence from the executive branch. With political tensions rising, the risk of disruption to the session is high.

The table below summarizes the stages required to approve Kevin Worsh’s appointment.

In the short term, the committee’s vote is the most important hurdle. It is expected to take place in late April and if strong political opposition arises, it could result in the nomination being approved or blocked. Even with committee approval, a final decision remains pending, requiring a final vote by the full Senate, which appears uncertain and has a high chance of being vetoed.

Therefore, the chances of Kevin Worsh taking over from May 16 appear limited at this stage. Any delays in the parliamentary calendar or any political opposition could result in his appointment being delayed or even questioned entirely.

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