The Federal Reserve Confirms Powell as Governor, Chair Nomination Could Be Confirmed as Early as Wednesday

BlockBeats News, May 13th - The U.S. Senate confirmed Kevin Warsh as a Federal Reserve Board member for a 14-year term with a 51-45 vote on May 12th. Warsh will succeed Milan, whose term has ended. The Senate has initiated the confirmation process for Warsh to concurrently serve as the Fed Chair for a four-year term, and a "cloture vote" has been held, starting the countdown. The earliest approval for his appointment to this leadership position could be on Wednesday. The current Chair Powell's term ends on Friday.

According to PolyBeats monitoring, the probability on the Polymarket prediction market of "Warsh formally receiving confirmation as Fed Chair by May 15th" is 99.6%.