Warsh assets draw Democratic fire ahead of Fed chair confirmation

Democratic senators on the Senate banking committee are pressing Federal Reserve chair-nominee Kevin Warsh over more than $100 million in undisclosed assets, threatening to complicate next week’s confirmation hearing. Warren described Warsh’s holdings as a red flag and warned a divestment promise isn’t enough for transparency, while the Office of Government Ethics says current disclosure is compliant. Warsh disclosed over $130 million in assets, mostly in Duquesne funds, with Juggernaut kept confidential due to a confidentiality agreement. The probe into Powell and Republican resistance to Warsh’s nomination add to a highly contentious political backdrop for the confirmation.