‘Moment of ENORMOUS uncertainty': GOP senator calls for swift Fed changes

• Larry Kudlow and Sen. Dave McCormick agree that the Federal Reserve should comply with Justice Department requests for documents regarding cost overruns, asserting that the Fed is not above the law.
• McCormick believes the investigation should be handled by the Senate Banking Committee and hopes this situation could lead to the confirmation of Kevin Warsh as Fed Chair.
• Both speakers praise Kevin Warsh for his 'reformer's heart,' understanding of the 'real economy,' and commitment to downsizing the Fed's power and balance sheet, advocating for new leadership at the Fed.

The discussion centers on President Trump's threats to fire Fed Chair Jerome Powell and the potential nomination of Kevin Warsh. Both speakers advocate for Warsh, highlighting his reformist views and desire to downsize the Fed's power and balance sheet. They emphasize that the Fed is not above the law and should comply with document requests, suggesting that this situation could pave the way for new leadership and necessary reforms.