Wash will officially assume the position after completing the relevant White House signing procedures, while Powell is expected to remain as a Federal Reserve Board member.

Odaily Odaily News The U.S. Senate confirmed Wash as Federal Reserve Chair by a vote of 54 to 45. The Senate had previously approved Wash as a Federal Reserve Board member on the 12th, for a term of 14 years. With the chair appointment approved on the 13th, Wash will officially take office after completing the relevant White House signing procedures, 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—Pennsylvania Senator John Fetterman—joined the Republican majority in voting yes. (Jin Shi)