The U.S. Senate Committee on Banking, Housing and Urban Affairs published a floor speech by Ranking Member Elizabeth Warren urging senators to reject Kevin Warsh’s nomination to chair the Federal Reserve ahead of the final Senate vote. Warren argued that the nomination forms part of President Trump’s effort to exert influence over the central bank and said Warsh is not fit to lead the Fed. In her remarks, Warren said the administration was using investigations involving Chair Jay Powell and Governor Lisa Cook to pressure existing Fed leadership while advancing Warsh’s nomination. She also cited what she described as Warsh’s refusal to disclose the sources of more than USD 100 million in assets and clarify possible conflicts or divestment plans, and criticised his record as a former Fed Governor before, during and after the 2008 financial crisis. Warren added that every Democrat on the Banking Committee voted against the nomination.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-05-13
U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Elizabeth Warren urges no vote on Kevin Warsh for Federal Reserve Chair
The U.S. Senate Committee on Banking, Housing and Urban Affairs published a floor speech by Ranking Member Elizabeth Warren urging senators to reject Kevin Warsh’s nomination to chair the Federal Reserve, calling it part of President Trump’s effort to influence the central bank. Warren cited alleged pressure on current Fed leadership, Warsh’s refusal to disclose the sources of more than USD 100 million in assets or address potential conflicts, and his record around the 2008 financial crisis, noting that all Committee Democrats opposed his nomination.