BlockBeats News, May 13th - The U.S. Senate voted 51-45 on May 12th to officially confirm Kevin Warsh as a Federal Reserve Board member for a 14-year term. Warsh will succeed the outgoing Miriam. The Senate has initiated the confirmation process for Warsh to simultaneously serve as the Chair of the Fed for a four-year term, and a cloture vote has been held, initiating the countdown. The approval for his leadership role could come as early as Wednesday local time. Current Chair Powell's term ends on Friday.