Warsh, whose name appears in the Epstein files, has not been accused of wrongdoing in connection with Jeffrey Epstein.

The Federal Reserve kept interest rates steady Wednesday as President Trump’s new pick to lead the bank inched closer to confirmation. By a vote of 8-4, the Federal Open Market Committee (FOMC) decided to maintain its baseline interest rate range between 3.

As Kevin Warsh moves closer to becoming chair of the Federal Reserve, his future colleagues are moving further from supporting the resumption of interest rate cuts that President Donald Trump is expecting.

The outgoing leader may be staying on in a lesser capacity, but he won't be a spoiler in Kevin Warsh's Fed.