Walsh will officially assume his position after completing the White House signing process, and Powell is expected to remain as a Federal Reserve Board member

Odaily Planet Daily News The U.S. Senate confirmed Walsh as the Federal Reserve Chair by a vote of 54 to 45. The Senate had previously approved Walsh to serve as a Federal Reserve Board member for a 14-year term on the 12th. With the chair appointment passing on the 13th, Walsh will officially assume his role after completing the White House signing process, succeeding current Chair Powell, whose term ends this Friday (May 15). However, Powell is expected to remain as a Federal Reserve Board member. This vote was the most partisan in history: only one Democrat, Senator John Fetterman from Pennsylvania, joined the Republican majority in voting in favor. (Jin Shi)