Fed chair nominee pressed on potential conflicts of interest, independence
Kevin Warsh faced intense questions from Senator Elizabeth Warren and other lawmakers over his more than $100 million financial disclosure ahead of a confirmation hearing.
The nominee to lead the US Federal Reserve, Kevin Warsh, on Tuesday faced criticism and backlash from Democrats questioning his financial disclosures and potential conflicts of interest.
Heading into today’s Senate Banking Committee confirmation hearings, it was clear that the independence of the Fed remains a key issue for many lawmakers concerned about the President Donald Trump’s influence over any Senate-confirmed candidate.
With Jerome Powell’s term as the US Federal Reserve Chair set to expire next month, lawmakers are scrambling replace the long-serving official.