Fed Reserve Chair Nominee Kevin Warsh Faces Questions on Potential Conflicts of Interest and Independence

Odaily News: During his confirmation hearing before the Senate Banking Committee, Federal Reserve Chair nominee Kevin Warsh faced questions regarding his financial disclosures exceeding $100 million, potential conflicts of interest, and the Fed's independence. Senator Elizabeth Warren raised concerns that he might provide special accounts for the Trump family's crypto company or bailouts for Wall Street. Kevin Warsh stated that his holdings include cryptocurrencies and AI companies, and he pledged to divest these assets before taking office if his nomination is confirmed. Regarding cryptocurrencies, Kevin Warsh stated that digital assets are part of the U.S. financial services industry. Additionally, Kevin Warsh denied that Trump had ever asked him to commit to any specific interest rate decisions. Jerome Powell's current term is set to end on May 15th, and Polymarket users predict a 78% probability that his nomination will be approved before June.