Kevin Warsh's Confirmation as Federal Reserve Chair Gains Momentum

The probability of Kevin Warsh being confirmed as the Federal Reserve Chair by May 15 has surged from 27% to 85%, according to Odaily. This increase is attributed to the U.S. Department of Justice's expected decision to drop the criminal investigation against current Federal Reserve Chair Jerome Powell. Previously, Thom Tillis, a member of the Senate Banking Committee, stated he would block Warsh's nomination from reaching a full Senate vote if U.S. President Donald Trump did not withdraw the investigation against Powell. With the anticipated withdrawal of the investigation, the market now expects Warsh to be confirmed by the Senate before Powell's term ends on May 15.