On May 14, the U.S. Senate confirmed Walsh as the Chair of the Federal Reserve with a vote of 54 to 45. The Senate had previously approved Walsh as a Federal Reserve Governor for a 14-year term on the 12th. Following the approval of his chairmanship on the 13th, Walsh will officially assume office after completing the necessary signing procedures at the White House, succeeding the current Chair Powell, whose term ends this Friday (May 15). However, Powell is expected to remain on as a Federal Reserve Governor. This vote marks one of the most significant partisan divides in history: only one Democrat—Senator John Fetterman of Pennsylvania—voted in favor alongside the Republican majority.
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U.S. Senate Confirms Kevin Walsh as Federal Reserve Chair
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