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Senate Confirms Waugh as Next Fed Chair, Set to Succeed Powell on May 15

ME News reported that on May 14 (UTC+8), the U.S. Senate confirmed Waugh as Chair of the Federal Reserve in a 54-45 vote. The Senate had already approved Waugh on May 12 for a 14-year term as a Federal Reserve Governor. Following the chairmanship confirmation, Waugh is expected to take office after completing the required signing procedures at the White House, replacing current Chair Jerome Powell when his term ends on Friday, May 15. Powell is expected to remain on the Fed's Board of Governors. The vote was described as the most partisan confirmation in history, with only one Democrat—Senator John Fetterman of Pennsylvania—joining Republicans in support. (Jinshi) (Source: ODAILY)
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