A senator from North Carolina warned that he would not vote in favor of Kevin Warsh, Donald Trump's nominee to succeed Jerome Powell, as long as legal proceedings against the Federal Reserve's chair were still underway.

A senator from North Carolina warned that he would not vote in favor of Kevin Warsh, Donald Trump's nominee to succeed Jerome Powell, as long as legal proceedings against the…

The hearing marks a key hurdle Kevin Warsh must overcome in order to succeed Jerome Powell when his term ends on 15 May

Federal Reserve Chairman Jerome Powell's term is nearing its end while the Trump administration investigates him and a replacement seeks confirmation.