the Senate / upper chamber of Congress

cānyìyuàn

参议院

by (a vote of) / with

yǐ

以

54 votes to 45 votes

54 piào duì 45 piào

54票对45票

to confirm / to approve

quèrèn

确认

Warsh (surname, Kevin Warsh)

Wòshí

沃什

to take up the post of / to serve as

chūrèn

出任

the Federal Reserve

Měilián chǔ

美联储

chairman / chair

zhǔxí

主席

。

New Words

News in English

Senate Confirms Kevin Warsh as Next Federal Reserve Chair

The US Senate confirmed Kevin Warsh as Federal Reserve chair on May 13 by a 54-45 vote, the most partisan confirmation in the history of the position.

On May 13th, the U.S. Senate confirmed Kevin Warsh to serve as Chairman of the Federal Reserve by a vote of 54 to 45, succeeding Jerome Powell.

This voting result represents the most partisan disagreement on Fed chair confirmation in history.

Except for Pennsylvania Democratic Senator Fetterman, all Democratic lawmakers voted against the confirmation.

Warsh is 56 years old this year and previously served as a Federal Reserve governor from 2006 to 2011.

He believes current interest rates still have room for reduction, despite rising gasoline prices creating inflationary pressure.

Market futures show a 74.5% probability that the Federal Reserve will maintain unchanged benchmark interest rates this year.

Warsh's first FOMC meeting as chair is scheduled for June 16-17.

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