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Deep Tide TechFlow News, May 12 — The next Federal Reserve Chair nominee, Kevin Waugh, nominated by Trump, crossed a key procedural hurdle in the Senate on Monday local time. Powell's chairmanship will end this Friday. The Senate is expected to vote on confirming Waugh as a Federal Reserve Board member, with a 14-year term, as early as Tuesday after the so-called "cloture vote" on Monday. Subsequently, lawmakers will also initiate the confirmation process for his four-year term as Federal Reserve Chair, with the relevant vote possibly taking place as early as Wednesday. The Republican-controlled Senate is expected to approve Waugh as the next Federal Reserve leader. The next Federal Reserve meeting (which may also be the first meeting after Waugh assumes the chairmanship) is scheduled for June 16-17 local time. (Jin10)