Kevin Warsh has been confirmed as the new Chair of the US Federal Reserve, succeeding Jerome Powell, whose term ends soon. The Senate's vote of 54-45 was highly divisive, reflecting partisan tensions over monetary policy, particularly as President Donald Trump advocates for lower interest rates amidst rising inflation. Warsh, who previously served on the Federal Reserve Board from 2006 to 2011, is set to become the wealthiest Fed chair in history, with assets estimated between $135 million and $226 million. His financial disclosures reveal a combined wealth with his wife, Jane Lauder, of approximately $192 million. Warsh's confirmation concludes a lengthy search for Powell's successor, which began in the summer of 2025. His extensive background includes roles in economic policy under President George W. Bush and a distinguished academic career at Stanford University.