The U.S. Senate Committee on Banking, Housing and Urban Affairs published Ranking Member Elizabeth Warren’s questioning of Kevin Warsh, President Trump’s nominee for Chair of the Federal Reserve, focusing on ethics disclosures and Federal Reserve independence. Warren challenged Warsh over more than USD 100 million in investments she said he had refused to disclose and asked whether the Juggernaut Fund or THSDFS LLC invested in Trump-affiliated companies, companies that facilitated money laundering, Chinese-controlled companies, or financing vehicles established by Jeffrey Epstein; Warsh did not give a yes-or-no answer but said he had reached an ethics agreement with the Office of Government Ethics and would divest his financial assets if confirmed. Warsh said he would sell “all” of his financial assets, including Duquesne-related holdings, and redeem the assets referenced as Juggernaut before taking office and signing the oath. Warren then tested Warsh’s independence, citing President Trump’s statements about wanting lower interest rates once Warsh is in office; Warsh declined to directly answer whether Trump lost the 2020 election and, when asked to name one part of Trump’s economic agenda he disagreed with, offered a personal aside rather than identifying a policy disagreement while reiterating that the Federal Reserve should keep politics out of monetary policy and “stay in its lane.”
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-04-21
U.S. Senate Committee on Banking, Housing and Urban Affairs presses Fed Chair nominee Kevin Warsh on undisclosed assets and independence
The U.S. Senate Banking Committee released Ranking Member Elizabeth Warren’s questioning of Federal Reserve Chair nominee Kevin Warsh, centering on his ethics disclosures and the Fed’s independence. Warren pressed Warsh on over USD 100 million in undisclosed investments and possible ties to Trump-affiliated, Chinese-controlled, money-laundering-related, or Jeffrey Epstein-linked entities. Warsh said he had an ethics agreement with the Office of Government Ethics and would divest all assets if confirmed. Warren also challenged his independence from President Trump’s agenda; Warsh declined to address Trump’s 2020 election loss or cite a specific policy disagreement, while insisting the Fed must keep politics out of monetary policy.