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Central Bank · Fed Nomination · Financial Disclosure · Kevin Warsh
Kevin Warsh, President Donald Trump's nominee to lead the Federal Reserve, submitted financial disclosures to the U.S. Office of Government Ethics, revealing assets valued at over $100 million, a crucial step for his Senate confirmation process.
Reuters reports Warsh's 69-page disclosure includes two investments exceeding $50 million each in the Juggernaut Fund LP and $10.2 million in consulting fees from Stanley Druckenmiller's investment office. Warsh pledged to divest these and other undisclosed holdings, including around two dozen in THSDFS LLC, if confirmed, a commitment noted by OGE analyst Heather Jones.
The document also lists numerous assets without stated values, primarily in AI and crypto sectors, such as Cafe X, Cionic, Blast, and Contraline. His spouse, Jane Lauder, with an estimated net worth of $1.9 billion, also had holdings included, with some municipal bonds valued at "over $1 million." Warsh's liabilities include a 2015 mortgage of up to $5 million from JP Morgan Chase at 2.75% and a revolving line of credit of up to $5 million from PNC Bank at around 6%.
The Senate Banking Committee requires five business days' notice for a hearing, making next week the earliest Warsh could appear. A Republican lawmaker vows to block confirmation until a Department of Justice investigation into current Fed Chair Jerome Powell concludes, despite a federal judge quashing DOJ subpoenas.
Powell's tenure ends May 15, and he will continue "pro tem" if Warsh is not confirmed by then.
Fed Nominee Warsh Discloses $100 Million Assets(current)