Federal Reserve Chairman nominee Kevin Warsh questioned over potential conflicts of interest and independence
According to Odaily, Federal Reserve Chair nominee Kevin Warsh faced questions in the Senate Banking Committee confirmation hearing about his financial disclosure exceeding 100 million US dollars, potential conflicts of interest, and the independence of the Federal Reserve. Senator Elizabeth Warren questioned whether he might give special accounts to the Trump family’s crypto company or offer bailouts to Wall Street. Kevin Warsh stated that his holdings include cryptocurrencies and AI companies, and pledged that, if his nomination is approved, he would divest these assets before taking office. Regarding cryptocurrencies, Kevin Warsh said digital assets are a part of the US financial services industry. He also denied that Trump had ever asked him to commit to any specific rate decision. Currently, Jerome Powell's term will end on May 15, and Polymarket users predict there is a 78% probability Warsh's nomination will be approved before June.
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