Warsh votes through key procedures, marking the countdown to the handover of the Federal Reserve chairmanship.

CoinFeed reported on May 12 that Kevin Warsh, Trump's nominee for the next Federal Reserve Chairman, passed a key procedural hurdle in the Senate on Monday. Jerome Powell's term as Chairman ends this Friday. The Senate is expected to confirm Warsh as a Federal Reserve Governor for a 14-year term, as early as Tuesday, following Monday's so-called "final debate vote." Following this, senators will initiate the confirmation process for his four-year term as Fed Chairman, with a vote potentially taking place as early as Wednesday. The Republican-controlled Senate is expected to approve Warsh as the next leader of the Federal Reserve. The next Fed meeting (potentially Warsh's first as Chairman) is scheduled for June 16-17.