U.S. Senate Confirms Kevin Warsh as Fed Chair

BlockBeats reports that the U.S. Senate on May 14 confirmed Waugh as chair of the Federal Reserve in a 54-45 vote. On May 12, the Senate had already approved Waugh's appointment as a Fed governor for a 14-year term. After the chair confirmation cleared on May 13, Wash is set to formally take office once the relevant White House signing process is completed, replacing current chair Jerome Powell, whose term ends Friday, May 15. Powell is expected to remain on the Board of Governors. GoldTen noted the vote was the most partisan on record, with only one Democrat—Pennsylvania Sen. John Fetterman—joining Republicans in support.