Sen. Elizabeth Warren (D-MA) pressed President Donald Trump’s nominee to lead the Federal Reserve on his financial holdings and ties to Jeffrey Epstein.
Fed nominee Kevin Warsh faced questions Tuesday during his confirmation hearing about undisclosed holdings of two individual assets worth more than $50 million each, and his wife Jane Lauder, granddaughter of the cosmetics founder Estée Lauder, holds an estimated $1.9 billion fortune.
“The Fed has been plagued by deeply disturbing ethics scandals in recent years involving at least six Fed officials, so it’s critical that the next chair have no financial conflicts – none,” Warren said. “You have more than $100 million in investments that you have refused to disclose to ethics officials and to the public, so let me ask, do the Juggernaut fund or the TSDFS LLC invest in any companies affiliated with President Trump or his family, companies that have facilitated money laundering, Chinese-controlled companies or financing vehicles established by Jeffrey Epstein?”
Warsh agreed that ethics scandals undermined the Fed’s credibility, but Warren redirected him.
“Answer my question please,” she said. “I ask, you have $100 million in undisclosed assets, and what I’m asking is, are any of those with this outfit that invests in us companies affiliated with President Trump or his family, companies that have facilitated money laundering, Chinese-controlled companies or financing vehicles set up by Jeffrey Epstein? It’s a yes-or-no question.”
Warsh insisted that he has worked closely with the Office of Government Ethics to lawfully sell off his financial holdings, and Warren erupted.
“Mr. Warsh, are you refusing to tell us of you investments, for example, in vehicles set up to advance Jeffrey Epstein?” she said. “Is that what you’re telling us? You just won’t tell us.”
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