Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, published a letter pressing Kevin Warsh, President Trump’s nominee to chair the Federal Reserve, to state whether he supports the Department of Justice’s criminal investigations into current Federal Reserve Chair Jerome Powell and Federal Reserve Governor Lisa Cook, framing the questions as a test of central bank independence. The letter asks Warsh to answer three items: whether he supports the DOJ’s decision to criminally investigate Powell, whether he supports the DOJ’s decision to criminally investigate Cook, and whether a list of President Trump’s statements about Powell reflect an appropriate posture toward an independent Fed Chair. The cited statements include threats to fire Powell, discussion of a “gross incompetence” lawsuit, calls for the Board to override Powell, and suggestions that Powell could be forced out over alleged fraud tied to a USD 2.5 billion renovation. Warren requested responses by February 6, 2026.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-01-30
U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Warren asks Fed chair nominee Kevin Warsh to clarify stance on DOJ investigations of Powell and Cook
Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, issued a letter to Kevin Warsh, nominee for Federal Reserve Chair, inquiring about his stance on the Department of Justice's criminal investigations into current Federal Reserve Chair Jerome Powell and Governor Lisa Cook, as well as President Trump's statements on Powell's independence. Warren requested Warsh's responses by February 6, 2026.