Trump’s Pick for Fed Chair Puts Loyalty First
WASHINGTON, D.C. – The U.S. Senate Banking Committee today conducted a confirmation hearing for Kevin Warsh, President Donald Trump’s nominee to chair the Federal Reserve. Warsh’s financial disclosure includes more than $100 million in a fund whose assets remain unspecified due to what he declares is a “confidentiality” agreement. Bartlett Naylor, economist for Public Citizen, released the following statement:
“Trump named Kevin Warsh because he won the sycophancy contest, threatening the independence of the nation’s most important economic institution. At his nomination hearing, he failed to acknowledge that Trump lost the 2020 election, affirming that loyalty, not facts, will govern his policy choices.
“Moreover, Warsh owns crypto, a contrivance with no connection to a revenue-producing company, which challenges whether he understands what generates a real economy. He holds more than $100 million in undetailed assets, and he declined to declare he has no connection to Epstein.
“American monetary and bank safety policy will now depend on a demented ventriloquist in the White House.”