Former Federal Reserve Governor Kevin Warsh is set to undergo a Senate confirmation hearing, but his nomination is still uncertain due to a dispute over a Trump administration criminal probe of Fed Chair Jerome Powell. Warsh's nomination comes alongside comments from President Donald Trump that he wouldn't name someone to lead the Fed who didn't plan to lower borrowing costs. He has previously argued that rate cuts are necessary due to technological advancements in artificial intelligence that increase productivity. However, inflation remains above the Fed's 2% and Warsh has previously stated that he would not name a successor who did not intend to lower the borrowing costs of the Fed. The situation is an unprecedented situation for the US.