Warsh will officially assume his duties after completing the relevant White House signing process, while Powell is expected to remain a Federal Reserve Board member

Odaily Planet Daily News The U.S. Senate confirmed Warsh as Federal Reserve Chair by a vote of 54 to 45. The Senate had previously approved Warsh as a Federal Reserve Board member on the 12th for a term of 14 years. With the approval of the chair nomination on the 13th, Warsh will officially assume his duties after completing the relevant White House signing process, succeeding current Chair Powell, whose term ends this Friday (May 15). However, Powell is expected to remain a Federal Reserve Board member. This vote was the most partisan in history, with only one Democrat—Pennsylvania Senator John Fetterman—voting with the Republican majority in favor. (Jinshi)