Senator Dave McCormick (R-PA) says his longtime friend Kevin Warsh is the right choice to lead the Federal Reserve, citing his reform mindset, market experience and view that AI will boost productivity and prove deflationary. Sen. McCormick says Warsh will need to build consensus with FOMC members on balance-sheet reduction and other reforms. He also backs a temporary pause in the federal gas tax until the US exits the Iran conflict and energy prices stabilize, and says the Clarity Act is in “a good place” after resolving stablecoin rewards language. He speaks with Joe Mathieu on the late edition of Bloomberg’s "Balance of Power" from Capitol Hill. (Source: Bloomberg)