April 29: Senate to Vote on Wash as Fed Chair Nomination

Odaily News On Sunday, after the Justice Department concluded its investigation into Powell, Republican Senator Thom Tillis dropped his opposition to the confirmation process for Wash's nomination as Fed Chair. The Senate Banking Committee voted 13-11 to advance Kevin Wash's nomination for Fed Chair to a full Senate vote. According to the official website of the U.S. Senate Banking Committee, the vote is scheduled for April 29 at 10 a.m. Eastern Time.

The same day, the Federal Open Market Committee will also announce its latest interest rate decision. Current Chair Powell will preside over his 63rd, and possibly final, press conference after eight years at the helm of the Fed. Powell's term as Fed Chair ends on May 15, but his term as a governor runs until January 31, 2028. Whether Powell will also leave the Fed's Board of Governors has become a key focus for the market.