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The U.S. Senate Banking Committee's executive session will vote on Wash's nomination.
April 28 News, as the Department of Justice concludes its investigation into Powell, Republican Senator Tom Tillis has dropped his obstruction of Wach’s nomination confirmation as Federal Reserve Chair. The Senate Banking Committee ultimately voted 13-11 to refer Kevin Wach’s nomination for Federal Reserve Chair to the full Senate for a vote. According to the official website of the U.S. Senate Banking Committee, the vote is scheduled for 10 a.m. Eastern Time on April 29.
On the same day, the Federal Open Market Committee will announce its latest interest rate decision. Current Chair Powell will hold his 63rd and possibly final press conference since taking over the Fed, following the meeting. Powell’s term as Fed Chair will end on May 15, but his board term will continue until January 31, 2028. Whether Powell will also resign from the Federal Reserve Board has become a focus of market attention.