TechFlow News, May 12: Kevin Warsh, President Trump’s nominee for the next Federal Reserve Chair, cleared a key procedural hurdle in the Senate on Monday local time. Chair Powell’s term ends this Friday. The Senate is expected to vote as early as Tuesday to confirm Warsh as a Fed Governor for a 14-year term, following Monday’s so-called “cloture vote.” Lawmakers will then initiate the confirmation process for his four-year term as Fed Chair, with a vote potentially as early as Wednesday. The Republican-controlled Senate is expected to approve Warsh as the next Fed leader. The Fed’s next meeting—possibly Warsh’s first as Chair—will be held on June 16–17 local time. (Jinshi)
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