Fed's Warsh Vote Timing

The timing for the first-round vote on the new Fed Chair, Warsh, has been announced. The vote by the banking committee will take place at 10 PM Beijing time tomorrow night. There are a total of 24 voting members, and at least 13 approvals are required for passage.

Among these, 13 are Republicans, i.e., Trump's people, and 11 are Democrats. Previously opposing Republican Tillis has shifted to support Warsh following the halt of the Powell investigation. Therefore, the market predicts Warsh will pass.

If passed, the final full Senate vote can be held before Powell's term ends on May 15th. The probability of Senate passage is currently quite high. So barring any surprises, Warsh will take over from Powell next month.

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