Sparks flew on Capitol Hill as Sen. Elizabeth Warren, D-Mass., accused Federal Reserve nominee Kevin Warsh of being a potential “sock puppet” for President Donald Trump.
Warsh, tapped by Trump in January to lead the Federal Reserve, faced a two-and-a-half-hour confirmation hearing before the Senate Banking, Housing, and Urban Affairs Committee.
If confirmed, he would take the helm of the world’s most powerful central bank, shaping interest rates, borrowing costs and the financial outlook for millions of American households for the next four years.
WHO IS KEVIN WARSH, TRUMP’S PICK TO SUCCEED JEROME POWELL AS FED CHAIR?
In her opening remarks, Warren sharply criticized Warsh’s record and questioned his independence, arguing he is “uniquely ill-suited for the job as Fed chair” and warning he could give Trump influence over the central bank.
She accused Warsh of enabling Wall Street during the 2008 financial crisis, which fell during his tenure as a Federal Reserve governor when he served from 2006 to 2011.
“In our meeting last week, we discussed the 2008 financial crash, where 8 million people lost their jobs, 10 million people lost their homes and millions more lost their life savings,” Warren said. “Giant banks, however, got hundreds of billions of dollars in bailouts… and he said to me that he has no regrets about anything he did.”
She added that Warsh “worked tirelessly to arrange multibillion-dollar bailouts” for Wall Street CEOs, with nothing for American families.
The hearing grew more tense as Warren pivoted to ethics concerns, pressing Warsh over his undisclosed financial holdings and questioning him over links to business dealings connected to the late convicted sex offender Jeffrey Epstein.
The two spoke over each other and raised their voices in a heated exchange on Capitol Hill.
WARSH’S $226 MILLION FORTUNE UNDER SCRUTINY AS FED NOMINEE FACES SENATE CONFIRMATION
Sen. Elizabeth Warren: The Fed has been plagued by deeply disturbing ethics scandals in recent years. It’s critical that the next chair have no financial conflicts — none. You have more than $100 million in investments that you have refused to disclose. So let me ask: do the Juggernaut Fund or THSDFS LLC invest in companies affiliated with President Trump or his family, companies tied to money laundering, Chinese-controlled firms, or financing vehicles linked to Jeffrey Epstein?
Kevin Warsh: Senator, I’ve worked closely with the Office of Government Ethics and agreed to divest all of my financial assets.
Warren: Could you answer my question, please? You have more than $100 million in undisclosed assets. Are any of those investments tied to the entities I just mentioned? It’s a yes-or-no question.
Warsh: I have worked tirelessly with ethics officials and agreed to sell all of my assets before taking the oath of office.
Warren: Are you refusing to tell us if you have investments in vehicles linked to Jeffrey Epstein? You just won’t say?
Warsh: What I’m telling you is those assets will be sold if I’m confirmed.
Warren: Will you disclose how you plan to divest these assets? The public might question your motives if, for example, someone who profits from predicting Fed policy cuts you a $100 million check as you take office.
Warsh: I’ve reached a full agreement with the Office of Government Ethics and will divest those assets before taking the oath.
Warren: I’m asking a very straightforward question. Will you disclose how you divest those assets?
Warsh: As I’ve said, I’ve worked with ethics officials.
Warren: I’ll take that as a no.
In a separate exchange, Warren invoked Trump’s past statements about the Fed and challenged Warsh to prove his independence in real time.
She insisted that Warsh answer whether he believes Trump won the 2020 presidential election and if he would name policies of the president with which he disagrees. The hopeful future Fed chair dodged the question and said he would remain apolitical, if confirmed.
THE ONE LINE IN WARSH’S TESTIMONY SIGNALING A BREAK FROM THE FED’S STATUS QUO
Warren: Donald Trump has made clear he does not want an independent Fed. He has said, “Anybody that disagrees with me will never be Fed chairman.” He’s also said interest rates will drop “when Kevin gets in.” Let’s check out your independence and your courage. We’ll start easy. Mr. Warsh, did Donald Trump lose the 2020 election?
Warsh: Senator, we should keep politics out of the Federal Reserve.
Warren: I’m asking a factual question.
Warsh: This body certified the election.
Warren: That’s not what I asked. Did Donald Trump lose in 2020?
Warsh: The Fed should stay out of politics.
Warren: In our meeting, you said you’re a “tough guy” who can stand up to President Trump. So name one aspect of his economic agenda you disagree with.
Warsh: That’s not something I’m prepared to do. The Fed should stay in its lane.
Warren: Just one place where you disagree.
Warsh: I do have one disagreement — he said I looked like I was out of central casting. I think I’d look older and grayer.
Warren: That’s adorable. But we need a Fed chair who is independent. If you can’t answer these questions, you don’t have the courage or the independence.
WATCH: Sen Warren unloads on Trump’s Fed nominee Kevin Warsh in explosive hearing showdown 2026 IUSTITIA.BG – Investigations 2009-2025 2026-04-22 13:49:10 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law
