00:01President Donald Trump has formally nominated Kevin Warsh to serve as the next Federal Reserve Chair,
00:07replacing Jerome Powell if confirmed by the U.S. Senate.
00:10However, Senator Tom Tillis has vowed to block the nomination until a federal criminal investigation into Powell is dropped,
00:18potentially stalling the process.
00:20The move comes amid heightened tensions between Trump and the Fed,
00:23including disputes over interest rates and a separate legal battle involving Fed Governor Lisa Cook.
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