The U.S. Senate Committee on Banking, Housing and Urban Affairs published Ranking Member Elizabeth Warren’s opening statement for the markup of Kevin Warsh, President Trump’s nominee for Chair of the Federal Reserve, and said the proceeding marked the first party line vote on a Federal Reserve chair nomination in the committee’s history. In the statement, Warren opposed the nomination and argued that moving Warsh forward would help President Trump tighten control over the central bank. Warren said ongoing pressure on Federal Reserve officials, including threats to remove Chair Jay Powell and continued action against Governor Lisa Cook, made it unsafe to advance any Fed chair nominee. She also attacked Warsh’s record as a former Fed governor, criticised his answers at the prior week’s hearing as showing little independence from Trump, and raised conflict concerns over what she described as more than USD 100 million in secret financial assets and an unclear divestment plan.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-04-29
U.S. Senate Committee on Banking, Housing and Urban Affairs holds first party line vote on Kevin Warsh Federal Reserve Chair nomination
The U.S. Senate Committee on Banking, Housing and Urban Affairs released Ranking Member Elizabeth Warren’s opening statement opposing President Trump’s nomination of Kevin Warsh as Chair of the Federal Reserve, noting the markup was the committee’s first party line vote on a Fed chair nominee. Warren argued that advancing Warsh would help President Trump tighten control over the central bank, citing ongoing pressure on Federal Reserve officials, concerns over Warsh’s independence, and what she described as over USD 100 million in secret financial assets and an unclear divestment plan.