\n Kevin Wash, nominee for the next Fed chair [AP=Yonhap]
\n <\/figcaption><\/figure>\n<\/div>\n[The Public \u2014 Reporter Son Se-hee] The U.S. Senate approved Kevin Wash\u2019s nomination to serve on the Federal Reserve Board, moving the Fed\u2019s leadership transition into its final stage.<\/p>\n
On June 12 (local time), Bloomberg and Reuters reported that the Senate confirmed Wash\u2019s nomination to the Fed Board in a roll-call vote of 51 to 45. Fed governors serve 14-year terms.<\/p>\n
Confirmation of the Fed chair is conducted separately from the board appointment. The Senate is expected to hold a confirmation vote on Wash\u2019s nomination for Fed chair on June 13. The chair serves a four-year term.<\/p>\n
Current Fed Chair Jerome Powell\u2019s term expires on June 15. If the Senate finishes the confirmation process, Wash could assume leadership as soon as this week.<\/p>\n
Markets are closely watching whether the new leadership will alter the likely path of benchmark interest rates. President Donald Trump has repeatedly called for interest-rate cuts in public statements.<\/p>\n
Analysts note that the Fed\u2019s actual policy stance will depend on inflation and employment trends, movements in Treasury yields, and signs of an economic slowdown. Fed officials have also flagged the risk of inflation re-emerging, suggesting that a rapid shift in monetary policy in the near term is unlikely.<\/p>\n
At his Senate confirmation hearing, Wash said, \u201cPresidents generally prefer rate cuts,\u201d but added that \u201cthe Fed must protect its independence.\u201d Observers interpret his remarks as a commitment to base policy decisions on economic data rather than political pressure.<\/p>\n
The next Federal Open Market Committee (FOMC) meeting is scheduled for June 16\u201317. If Wash is formally installed as chair before then, that meeting could be the first rate-setting session under the new leadership.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kevin Warsh’s nomination for the Federal Reserve board has passed the Senate, nearing the leadership transition process.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_thumbnail_url":"https:\/\/cdn-union.tenbizt.com\/contents\/crawler-dev\/thumbnail\/2026\/05\/CP-2024-0005\/thumb-f3305e2e-f69f-4df3-824e-4867932d68d9.jpg","footnotes":""},"categories":[278093],"tags":[],"class_list":["post-260326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"yoast_head":"\n
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