Warren confronts Warsh over ethics in fiery Fed hearing
At a Capitol Hill hearing, Sen. Elizabeth Warren pressed Federal Reserve Chair Kevin Warsh about whether he questioned a colleague regarding a bankers’ meeting that could violate Fed rules, calling the tone “inviting corruption.” Warsh said the matter is under investigation by the Fed inspector general and declined to comment further beyond acknowledging Warren’s letter. Warren also pressed about who gave Warsh $100 million before he was sworn in; Warsh denied any improper funding. Warsh noted his commitment to ethics and noted past ties to investor Stanley Druckenmiller, while defending his handling of the Bowman blackout-period issue. The exchange spotlighted ongoing scrutiny of ethics and transparency at the Fed.