Alsobrooks, Gallego Lead Colleagues in Pressing Fed Nominee Kevin Warsh on Contradictory Testimony

April 29, 2026

WASHINGTON, DC - Senators Angela Alsobrooks (D-Md.), Ruben Gallego (D-Ariz.), Elizabeth Warren (D-Mass.), Chris Van Hollen (D-Md.), Tina Smith (D-Minn.), Raphael Warnock (D-Ga.), Andy Kim (D-N.J.), and Lisa Blunt Rochester (D-Del.) called on Federal Reserve (Fed) Chair nominee Kevin Warsh to clarify discrepancies between his testimony before the Senate Committee on Banking, Housing, and Urban Affairs and public statements from President Trump regarding Warsh's support for cutting interest rates.

"Ultimately, your claim that you 'never said to the President where [you] think rates should be' and your comment that the President 'never generally or specifically instructed' you regarding committing to an interest rate path appear to directly contradict President Trump," the senators wrote in a letter to Kevin Warsh. "President Trump confirmed to the Journal that during your interview on December 10, 2025, he pushed you on whether you could be trusted, generally, to support cutting interest rates as Fed Chair. He apparently left that meeting satisfied that you would. President Trump also publicly indicated that you 'understand that he wants him to lower interest rates,' and that if you had said anything otherwise, you 'would not have gotten the job.'"

"How President Trump managed to secure that assurance without 'generally…suggest[ing]' that you should 'commit to any interest rate path' in at least some way is hard to understand," the senators continued.

The senators requested answers to the following questions:

• Are there any corrections you would like to make to the record regarding your April 21, 2026, testimony before the Banking Committee?

• Did President Trump ask you in the lead up to your nomination if he could "trust you"? Did he specify what he was hoping he could "trust you" to do? If so, what was it he hoped he could trust you to do?

• Following your meeting with President Trump, the President referred to you in telling the Wall Street Journal, "He thinks you have to lower interest rates." You claim that the President "never generally or specifically instructed" you on interest rates or "suggest[ed] [you] should commit to any interest rate path whatsoever." Was President Trump telling the truth, or lying, to the Wall Street Journal? Assuming you believe the President was telling the truth, how did President Trump come to understand your views on interest rates during the meeting? What, specifically, did he ask you, and what, specifically, did you tell him?

Read the full letter HERE.

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