The U.S. Senate Committee on Banking, Housing and Urban Affairs published a hearing exchange in which Ranking Member Elizabeth Warren questioned Federal Reserve Chair Kevin Warsh about the sale of more than USD 100 million of shares in private investment vehicles shortly before he took office. Warsh did not identify the buyer or buyers, instead saying he had fully honored his obligations under his agreement with the Office of Government Ethics and would make any further disclosure consistent with that arrangement. The exchange centered on Warsh's former holdings in the Juggernaut Funds and THSDFS LLC, which Warren said had not been fully disclosed to the Senate or the public at the time of his nomination. Warren linked her questioning to broader concerns about ethics at the Federal Reserve, referring to at least six senior Fed officials over the past five years who had been implicated in personal trading and self-dealing scandals. When pressed on whether the purchaser was a billionaire with business before the Fed or investor Stanley Druckenmiller, Warsh repeated that he would comply with Office of Government Ethics requirements but did not answer the question directly.
U.S. Senate Committee on Banking, Housing and Urban Affairs2026-07-15
U.S. Senate Committee on Banking, Housing and Urban Affairs publishes Warren exchange on Fed Chair Warsh refusal to disclose buyer of more than USD 100 million in private fund stakes
The U.S. Senate Committee on Banking, Housing and Urban Affairs released a hearing exchange in which Elizabeth Warren pressed Fed Chair Kevin Warsh to identify who bought more than USD 100 million of his private fund stakes shortly before he took office. Warsh declined to disclose the buyer, citing his agreement and disclosure obligations with the Office of Government Ethics.