U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member Warren seeks written answers from Fed chair nominee Kevin Warsh on crisis-era record

The U.S. Senate Committee on Banking, Housing and Urban Affairs minority published a letter from Ranking Member Elizabeth Warren to Federal Reserve chair nominee Kevin Warsh, pressing him for responses on his record before, during, and after the 2008 financial crisis and questioning whether he learned from his tenure as large banks received support while households lost jobs and homes. The letter points to Warsh’s prior role as a Morgan Stanley mergers and acquisitions executive and asserts he played a central role in arranging multibillion-dollar bailouts, including taxpayer-assisted megamergers. It also cites reports that he obtained an ethics waiver to deal directly with Morgan Stanley and that the firm received expedited Federal Reserve approvals needed to access additional emergency support. Warren further criticizes Warsh’s monetary policy stance in 2009 and 2010, arguing he favored raising rates and prioritizing low inflation over addressing high unemployment, citing an unemployment rate of 9.8% alongside core inflation below 1%. The release also notes Warren has previously asked Warsh to address questions about President Trump’s alleged pressure on Federal Reserve leadership, any interactions or relationship with Jeffrey Epstein, and whether Trump demanded a loyalty pledge before nominating him. Warren requested written responses from Warsh by April 2, 2026.