Elizabeth Warren attacks Kevin Warsh over financial disclosures
CNBC • • business
Key Points:
- Kevin Warsh, nominee for Federal Reserve chair, disclosed assets worth between $135 million and $226 million, with additional wealth from his wife Jane Lauder, estimated at $1.9 billion.
- Warsh's financial disclosures lack detailed information on key holdings, including two assets valued over $50 million each in the Juggernaut Fund, linked to the Duquesne Family Office managed by Stanley Druckenmiller.
- Senator Elizabeth Warren criticized Warsh for not fully disclosing these assets due to confidentiality agreements, stating he is currently out of compliance with ethics rules and is the first Fed nominee in this term to hold that status.
- Warsh has committed to divesting the undisclosed assets within 90 days of confirmation to regain compliance with ethics regulations.
- The controversy arises amid heightened scrutiny of Fed officials' financial disclosures following past ethics scandals under Chair Jerome Powell, with Warsh's nomination hearing scheduled for Tuesday.
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