Kevin Warsh, the nominee for Federal Reserve Chairman nominated by US President Donald Trump, is expected to appear before the Senate next Tuesday (April 21) for his confirmation hearing. His hearing was originally scheduled for this Thursday (April 16), but has been rescheduled.
According to AFP, the Republican-led banking committee is expected to question Walsh about his vast wealth, his past relationship with the late sex offender Jeffrey Epstein, and his views on interest rates and other economic issues at a hearing next Tuesday.
Walsh had previously submitted documents, including financial statements, to the Senate Banking Committee. His latest asset declaration shows total assets exceeding $1 million; if appointed, he will become the wealthiest chairman in Fed history.
The 69-page document reveals that Washuu received over ten million dollars in advisory fees from legendary investor Stanley Druckenmiller and held two investments, each worth $5,000 million, in a fund called the "Juggernaut Fund." To avoid a conflict of interest, Washuu has pledged to handle the assets in accordance with the central bank's stringent ethical guidelines after being appointed by Congress.
However, even if the hearings proceed as scheduled, it remains uncertain whether Watts will be able to secure a swift passage through the full Senate. North Carolina Republican Senator Thom Tillis has previously stated his refusal to vote for any Fed nominee unless the Justice Department drops its criminal investigation into Powell's oversight of the Fed headquarters renovation project.
