The president has chosen his nominee for second most powerful economic policy position in the country.

I'm David Brancatchew in Los Angeles. This morning, President Trump revealed his choice to lead the Federal Reserve.

It is Kevin Warsh, a former Fed governor and more recent Fed critic. If confirmed by the Senate, Warsh would replace Jerome Powell,

whose term expires in May. Warsh had called for, quote, regime change at the Fed. Marketplace's

Nova Saffo reports. Kevin Warsh served as Fed Governor from 2006 until 2011, a time span that included

the financial crisis and the Federal Reserve's efforts to stabilize Wall Street.

He's a visiting fellow in economics at Stanford's Hoover Institution, a conservative-leaning

think tank. Warsh has recently criticized the Federal Reserve, saying that it has not done enough

in the past to fight inflation. Here he is speaking at the Hoover Institution.

The central bank can hit any price level that it wants, any inflation level that it wants.

We might not like how they do it, but the idea that is they should be blaming someone else strikes me as quite antithetical to good economic history.

Warsh believes the Fed now should lower interest rates more, something President Trump

has called for. Worse says doing so won't trigger more inflation because artificial intelligence

and its advancements will boost productivity. Higher productivity has historically been a

deflationary force. Warsh also wants less intervention in financial markets and a more

hands-off approach at the Fed toward bank regulation. I'm Nova Saffa for Marketplace.

With electricity-hungary artificial intelligence, there's concern about power shortages, higher bills

for consumers, and environmental degradation. Some big companies are paying to restart nuclear plants on a different scale.

There's Redwood Materials, a startup that takes used electric vehicle batteries

to help power a data center in, for instance, Nevada.

Colin Campbell is Chief Technology Officer at Redwood Materials.

What that is is 60 megawatt hours and 12 megawatts of reused electric vehicle batteries

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