White House: Warsh confirmed as Federal Reserve Chairman

Odaily Planet Daily reports that the White House has confirmed Kevin Warsh as the new Chairman of the Federal Reserve. On May 13th local time, the U.S. Senate approved Warsh's appointment as Chairman of the Federal Reserve by a vote of 54 to 45. Previously, the Senate had approved his appointment as a member of the Federal Reserve Board of Governors on May 12th for a 14-year term. With the confirmation of his appointment, Warsh will officially assume office after completing the relevant signing procedures at the White House, succeeding current Chairman Powell, whose term ends on May 15th. Reports indicate that Powell is expected to remain on the Federal Reserve Board of Governors.