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Federal Reserve Chair Nominee Kevin Wash Testifies on Potential Conflicts of Interest and Independence
Odaily Planet Daily News: Federal Reserve Chair nominee Kevin Warsh was questioned at a Senate Banking Committee confirmation hearing about his financial disclosures exceeding $100 million, potential conflicts of interest, and the independence of the Fed. Senator Elizabeth Warren questioned whether he might provide special accounts to crypto companies of the Trump family or offer a bailout to Wall Street. Kevin Warsh said his holdings include cryptocurrencies and AI companies, and pledged to divest related assets before taking office if his nomination is approved. Regarding cryptocurrencies, Kevin Warsh said digital assets are part of the U.S. financial services industry. In addition, Kevin Warsh denied that Trump ever asked him to commit to any specific interest-rate decision. Currently, Jerome Powell’s term ends on May 15, and Polymarket users predict a 78% chance that his nomination will be approved before June.