TechFlow News, May 13: On May 12, the U.S. Senate confirmed Kevin Warsh as a member of the Board of Governors of the Federal Reserve System by a vote of 51 in favor and 45 opposed, for a term of 14 years. Warsh succeeds Stephen M. Miron, whose term has expired; Warsh’s term on the Board began on February 1 this year. The Senate has initiated the confirmation process for Warsh’s concurrent appointment as Chair of the Federal Reserve for a four-year term and held a cloture vote—effectively ending debate and triggering a countdown—making approval of his appointment to this leadership role possible as early as Wednesday local time. Current Chair Jerome Powell’s term ends this Friday. (Jinshi)
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