00:00President Donald Trump has nominated former Federal Reserve Governor Kevin Warsh to succeed
00:05Jerome Powell as Fed Chair when Powell's term ends in May, pending Senate confirmation.
00:11Warsh, who served on the Fed's board from 2006 to 2011 and later worked in finance and
00:17academia, is seen as a credible pick on Wall Street and a longtime critic of some of the
00:22Fed's recent policies.
00:24The nomination comes amid tensions between Trump and Powell over interest rate policy,
00:29with President Trump pushing for lower borrowing costs and signaling interest in reshaping
00:34central bank direction.
00:36If confirmed, Warsh could shift Fed's strategy towards a more limited central bank role and
00:41different rate priorities, though his confirmation could face political hurdles and scrutiny over
00:46Fed independence.
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