Democrats on the U.S. Senate Committee on Banking, Housing and Urban Affairs, led by Ranking Member Elizabeth Warren, published a letter to Kevin Warsh, President Trump’s nominee for Chair of the Federal Reserve, saying his responses to questions for the record were incomplete and re-sending those questions ahead of the committee’s markup of his nomination. The senators requested complete answers by 9:30 a.m. on Wednesday, April 29, saying the missing responses are necessary to assess how he would lead the Federal Reserve and respond to concerns about central bank independence. According to the letter, Warsh did not fully answer questions on whether he signed or was asked to sign a loyalty pledge to President Trump, whether actions involving Fed officials including Jerome Powell and Lisa Cook threaten monetary policy independence, whether he supports investigations involving those officials, whether he disagrees with the President on any policy issue, whether Trump lost the 2020 election, and details of his undisclosed financial assets. Committee Democrats also said he did not answer questions on his role and views during the 2008 financial crisis, including Wall Street bailouts, subprime mortgages, derivatives and bank capital, and did not rule out voting on any master account application from World Liberty Financial, which the letter describes as President Trump’s proposed national trust bank.

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