The Trump administration has formally nominated Kevin Warsh, a former top Federal Reserve official, to be the next Fed chair when Jerome Powell’s term ends in two months.

Warsh’s nomination, which was initially announced Jan. 30, was forwarded to the Senate Wednesday, where it will be taken up by the Senate Banking Committee.

Yet the nomination could stall there. Sen. Thom Tillis, a North Carolina Republican on the committee, has said he will oppose confirming Warsh until a criminal investigation into Powell is resolved. Powell revealed Jan. 11 that the Justice Department had subpoenaed the Fed over Powell’s Senate testimony last June about the central bank’s $2.5 billion building renovation project.

Nuke plant permitted in Wyoming

The U.S. Nuclear Regulatory Commission issued its first construction permit for a commercial nuclear reactor in eight years Wednesday, granting approval to plans by a Bill Gates-backed company to build a sodium-cooled reactor in western Wyoming.

TerraPower filed for the permit in 2024, with construction now set to begin within weeks. Completion of the up to $4 billion plant is targeted for 2030, according to TerraPower.

“We have spent thousands of manpower hours working to achieve this momentous accomplishment,” TerraPower President and CEO Chris Levesque said in a statement.

Microsoft co-founder Gates, who is eyeing nuclear as a power source for the electricity-hungry data centers behind artificial intelligence, is a founder and primary investor in TerraPower.

The 345-megawatt reactor could generate up to 500 megawatts at its peak, enough for up to 400,000 homes.