White House confirms Kevin Warsh as next Federal Reserve Chair

BlockBeats reports that the White House said in a May 14 social media post that Kevin Warsh has been confirmed as Chair of the Federal Reserve. The U.S. Senate approved Warsh's nomination on May 13 local time by a 54"45 vote. The Senate had previously cleared Warsh on May 12 for a 14-year term as a Federal Reserve Governor. Following the chair confirmation, Warsh will take office after completing required signing procedures at the White House, succeeding current Chair Jerome Powell when Powell's term ends May 15. Powell is expected to remain on the Board as a Federal Reserve Governor.