NEW: Democrat Senator Pledges Support For Crucial Trump Nominee

During his confirmation hearing before the Senate Banking Committee on April 21, Warsh addressed issues including monetary policy, central bank independence, and his role during the 2008 financial crisis.

Following the hearing, the committee voted 13–11 along party lines to advance the nomination to the full Senate for consideration.

All Republican members supported the nomination, while Democratic members opposed it at the committee stage.

Tillis, who had initially raised concerns tied to a Justice Department inquiry involving Powell, later said he was satisfied that the matter would not continue.

He has also described Warsh as a strong and qualified candidate for the role.

Fetterman’s backing introduces a degree of bipartisan support ahead of the full Senate vote.

At this stage, he appears to be the only Democratic senator publicly indicating support for the nominee.

A simple majority is required for confirmation in the Senate, where Republicans currently hold control.

The vote on Warsh’s nomination is expected to take place in the near future, though an exact date has not been formally announced.

Powell’s term as chair of the Federal Reserve is scheduled to conclude on May 15.

If confirmed before that date, Warsh would be positioned to assume the chairmanship shortly thereafter.

Powell, however, is set to remain a member of the Federal Reserve Board of Governors until January 2028, and it is not yet clear whether he will continue serving in that capacity after his term as chair ends.