Bessent singles out Fetterman after Democrat defies party to hand Warsh Fed chair post
WASHINGTON, DC: Treasury Secretary Scott Bessent appreciated Senator John Fetterman for rising above the party lines and prioritizing the country by voting to confirm President Donald Trump's nomination of Kevin Warsh as Federal Reserve System Board of Governors chair.
Pennsylvania Senator John Fetterman, on Wednesday, May 13, joined Senate Republicans to confirm Kevin Warsh as Federal Reserve chair. Except for Fetterman, all the votes followed the party line, with Republicans voting for confirmation of Kevin and Democrats voting against it.
Scott Bessent hails John Fetterman for rising above political ideology
"Today Senate GOP, along with the Democrat who put country before political ideology, confirmed POTUS's nominee Kevin Warsh as the next Chairman of the Federal Reserve," Bessent declared in a Wednesday post on X.
"Chairman Warsh will usher in a new day at an institution that is in need of accountability, sound policy guidance, and the renewed sense of purpose to help guide our economy," he added.
Today @SenateGOP, along with the Democrat who put country before political ideology, confirmed @POTUS's nominee Kevin Warsh as the next Chairman of the @FederalReserve. Chairman Warsh will usher in a new day at an institution that is in need of accountability, sound policy…
— Treasury Secretary Scott Bessent (@SecScottBessent) May 13, 2026
"His chairmanship opens the door and lays the groundwork for every American family to build and grow in the world's greatest economy," Bessent added.
John Fetterman says he looks forward to working with Kevin Warsh
Fetterman said in a statement issued on Wednesday, "I've met Kevin Warsh and believe he will be transparent and responsive to Congress and the public. His promise to maintain Fed independence in setting interest rates is crucial, and I look forward to working with him."
"I also maintain we owe an enormous debt of gratitude to Chair Powell. Through multiple administrations and a global pandemic, our economy has been the envy of the world under his steady hand," Fetterman added.
"He never broke the law, has done a remarkable job, and I’m profoundly grateful for his service as Chair. I encourage him to stay on the Fed Board as long as he wants," Fetterman said.
Powell was nominated as the chair of the Federal Reserve by Trump in his first tenure, and Joe Biden retained him in the role for a second term.
Trump recently turned into an outspoken critic of Powell.
"After my term as Chair ends on May 15, I will continue to serve as a governor for a period of time to be determined. I plan to keep a low profile as a governor. There is only ever one Chair of the Federal Reserve Board. When Kevin Warsh is confirmed and sworn in, he will be that chair," Powell said last month.
