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The U.S. Senate approves Kevin Warsh to serve as Federal Reserve Chair
BlockBeats News: On May 14, the U.S. Senate confirmed Wosch as Federal Reserve Chair with a vote of 54 to 45. The Senate had previously approved Wosch to serve as a Federal Reserve governor on the 12th for a term of 14 years.
With his chair appointment passed on the 13th, Wosch will officially take office after completing the relevant signing procedures at the White House, succeeding the current Chair Powell, whose term ends this Friday (May 15).
However, Powell is expected to continue serving as a Federal Reserve governor. This vote was the most divisive along party lines in history: only one Democrat—Pennsylvania Senator John Fetterman—voted in favor alongside the Republican majority. (Jin10)