Ahead of Committee Vote, Banking Democrats Press Fed Nominee Kevin Warsh on His Evasive Responses and Failure to Answer Committee Members’ “Questions for the Record”

Ahead of Committee Vote, Banking Democrats Press Fed Nominee Kevin Warsh on His Evasive Responses and Failure to Answer Committee Members' "Questions for the Record"

Letter to Kevin Warsh | Resent QFRs | Warsh Responses to Committee Democrats

Washington, D.C. - Today, U.S. Senators Elizabeth Warren (D-Mass.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, along with Senators Jack Reed (D- RI), Mark Warner (D-VA), Chris Van Hollen (D-MD), Raphael Warnock (D-GA), Andy Kim (D-NJ), Ruben Gallego (D-IL), and Lisa Blunt Rochester (D-MD), sent a letter to Kevin Warsh, President Trump's nominee for Federal Reserve (Fed) Chair, regarding his failure to adequately respond to their questions for the record. The Senators are requesting complete answers from Mr. Warsh ahead of the Banking Committee markup on his nomination on Wednesday, April 29th.

"You did not provide clear or complete responses to many of our questions, which are critical to helping us assess how you would lead the Board of Governors of the Federal Reserve (Fed or Federal Reserve) if confirmed," wrote the Banking Committee Senators. "Given President Trump's repeated and continued attacks on the independence of the Fed, your ability to meaningfully answer direct questions from Congress is more important than ever, making your inadequate responses even more concerning."

The Senators re-sent their questions for the record to Mr. Warsh and requested complete answers by no later than 9:30am on Wednesday, April 29, 2026.

In his responses for the record to Ranking Member Warren, Warsh:

• Pointedly refused to answer whether he had signed a loyalty pledge to President Trump or whether the President had sought assurances of his loyalty in the context of vetting him for the role (page 1, response to questions 1-6).
• Warsh refused to say whether he believed Trump's attempt to illegally fire Fed Governor Lisa Cook or his defending the DOJ's criminal probe into Chair Powell is a threat to monetary policy independence (page 16, response to question 47).
• Warsh did not answer whether he supported the President's criminal investigation into sitting Fed Chair Jerome Powell or DOJ's criminal investigation into sitting Fed Governor Lisa Cook (pages 1-2, response to questions 7-8).
• Warsh yet again refused to provide one economic policy issue or even one policy issue across any policy area in which he disagreed with the President (page 1, response to questions 1-6).
• Warsh yet again, could not provide a simple yes or no response about whether President Trump lost the 2020 election (page 2, response to question 10).
• When asked about his undisclosed financial assets, Warsh refused to provide details on his undisclosed assets (pages 30-36, response to questions 108-110).
• Warsh did not provide answers to questions about his role as a primary architect of Wall Street bailouts throughout the financial crisis and whether his actions were responsible for exacerbating the Too-Big-To-Fail problem (page 6, response to question 13).
• Warsh did not provide any response to questions regarding his views during the financial crisis on downplaying subprime mortgages, incorrectly diagnosing risks posed by derivatives, or whether big banks were undercapitalized in the lead up to the 2008 financial crisis (pages 5-6, response to question 12).
• Warsh didn't rule out voting on any master account application submitted by President Trump's proposed national trust bank, World Liberty Financial (page 29, response to question 100).

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