The Senate confirmed Kevin Warsh as Fed chair on what the selector flags as the slimmest margin ever for a Fed chair: 54–45. Fetterman's crossover was the margin of bipartisan cover Trump needed to call this legitimate. The strategic read: Warsh arrives with almost no independent political capital, which is exactly how a White House itching to squeeze the Fed on rates prefers it — a chair who owes his seat to one party's near-unanimous muscle has less running room to resist political pressure than Powell ever did.