The U.S. Senate on the 13th (local time) approved Kevin Warsh's nomination as Chairman of the Federal Reserve (Fed) by a vote of 54 to 45. The Senate had previously approved Warsh's appointment as a Fed Governor (for a 14-year term) on the 12th. Warsh will officially take office once the White House signing process is completed, succeeding current Chairman Jerome Powell, whose term expires on the 15th. However, Powell is expected to retain his position as a Fed Governor. This vote was the most partisan confirmation vote in history, with only Pennsylvania Senator John Fetterman from the Democratic Party joining the Republican majority to cast a 'yes' vote.
