Powell is reappointed as the Federal Reserve's Acting Chair, marking the second time Powell has served as Acting Chair during his tenure, and he may also become the shortest-serving Acting Chair in U.S. history!

Although Wash successfully passed all legal procedures in the Senate, Trump did not sign the appointment immediately during his visit to China,
and Wash still has some personal assets to divest, which led to him not officially taking over as Fed Chair on May 15. Currently, it is expected that Wash can smoothly assume the position within a week.
As a convention, the Fed votes internally for Powell to become Acting Chair. Here, a detail needs to be noted: do you remember that in Powell's public speech last month, he explicitly stated that if Wash cannot take office smoothly, he will become the Acting Chair, which is a right granted to him by U.S. law?
In fact, this detail is very important. Knowing that there is a voting agenda, Powell still confidently believes he will become the Acting Chair. It seems Powell has very strong confidence, and this confidence comes from the support of his colleagues within the Federal Reserve.