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Will it soar or plunge tonight? Stay tuned ๐ฅ๐ฅ๐ฅ
At 10:00 PM local time on April 29, the U.S. Senate Banking Committee will hold a key vote on Kevin Wursch, Trumpโs nominee to serve as the Chair of the Federal Reserve. The nomination had fallen into a stalemate earlier due to opposition from key Republican Senator Tillis, but with the U.S. Department of Justice having withdrawn its investigation into the current chair, Powell, and Tillis now agreeing to support it, the biggest obstacle has been cleared. If the committee approves the nomination, it will be submitted to the full Senate for a confirmation voteโmeaning Wursch will most likely be able to complete the transfer of power before Powellโs term ends on May 15. Any subsequent Federal Reserve policy adjustments that Wursch may push for could also have far-reaching impacts on global financial markets.
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