Summary
Kevin Warsh has been nominated by President Donald Trump to be the new Federal Reserve chair, potentially making him the wealthiest person to hold the position. Warsh reported assets worth over $100 million and has promised to sell many of his financial holdings if confirmed.
Key Facts
- Kevin Warsh was nominated by President Trump to be the new chair of the Federal Reserve.
- Warsh disclosed assets worth over $100 million.
- He previously served as a governor of the Federal Reserve.
- Warsh has agreed to sell many of his financial investments within 90 days of his confirmation.
- His financial disclosure included two investments in the Juggernaut Fund LP totaling over $100 million.
- Warsh’s spouse, Jane Lauder, is connected to the Estee Lauder cosmetics company and has a significant net worth.
- The Senate Banking Committee will hold a confirmation hearing for Warsh.
- There is some hesitation about his confirmation pending a Department of Justice inquiry.
