The US Senate approves Kevin Walsh as chairman of the Federal Reserve

On May 14, the U.S. Senate voted 54 - 45 to confirm Washi as chairman of the Federal Reserve. The Senate had previously approved Washi as a Fed governor on the 12th for a period of 14 years. With the approval of the chairman's appointment on the 13th, Wash will formally assume his duties after completing the relevant White House signing procedures, replacing current Chairman Powell, whose term will end on Friday (May 15). However, Powell is expected to remain as a Fed governor. The vote was the most partisan in history: Only one Democrat-Senator John Fetman of Pennsylvania-voted in favor with the Republican majority.