The U.S. Senate Banking Committee will hold a vote on the nomination of Kevin Warsh as Federal Reserve Chairperson

BlockBeats News, April 28th - As the Department of Justice concluded its investigation into Powell, Republican Senator Thom Tillis abandoned his obstruction of the confirmation process for Janet Yellen as Fed Chair. The Senate Banking Committee ultimately voted 13-11 to send Kevin Warsh's nomination for Fed Chair to the full Senate for a vote. According to the U.S. Senate Banking Committee's official website, the vote is scheduled to take place on April 29th at 10:00 a.m. Eastern Time.

On the same day, the Federal Open Market Committee of the United States will announce its latest interest rate decision. Current Chair Powell will hold his 63rd, and possibly final, press conference after the meeting, marking the end of his eight-year tenure at the Fed. Powell's term as Fed Chair will expire on May 15th, but his term on the Board will continue until January 31, 2028. Whether Powell will also resign from the Fed Board has become a focus of the market.