Warsh will officially assume his role after completing the White House signing procedures, while Powell is expected to remain as a Fed governor

Odaily Planet Daily News: The U.S. Senate confirmed Warsh as the Chairman of the Federal Reserve with a vote of 54 to 45. The Senate had previously approved Warsh to serve as a Fed governor on the 12th, a term lasting 14 years. With the confirmation of his chairmanship on the 13th, Warsh will officially assume his position after completing the relevant White House signing procedures, succeeding current Chair Powell, whose term ends this Friday (May 15). However, Powell is expected to continue serving as a Fed governor. This vote marked the most partisan split in history: only one Democrat—Senator John Fetterman of Pennsylvania—joined the Republican majority in voting in favor. (Jin Shi)