Senate Finally Passes It with 53 -46 Vote – Chuck Schumer and Dems LOSE

Phelan acknowledged concerns about his lack of military service, saying he respects that perspective but believes the Navy already possesses extraordinary operational expertise within its ranks. “My role is to utilize that expertise and strengthen it to step outside the status quo and take decisive action with a results-oriented approach,” he said.

The position fills the seat previously held temporarily by Stephen Miran, a Trump aide who took a leave from the White House Council of Economic Advisers to serve on the Fed after an early resignation created the vacancy. Miran’s term officially expired in January but he remained on the board until a replacement was confirmed.

Warsh’s term as a Fed governor will run until 2040. He will serve alongside two governors nominated during Trump’s first term and three nominated by former President Joe Biden. Trump’s attempts to remove one Biden appointee have so far been blocked by courts.