“Having a sock puppet in charge of the Fed would give the president access to the Fed’s enormous powers to enrich himself, his family, and his Wall Street allies,” Warren declared during the tense exchange.
Warsh immediately pushed back against the accusation.
“Absolutely not,” he replied firmly when asked whether he would simply carry out Trump’s wishes.
He insisted that the Federal Reserve’s independence is “essential” to protecting the stability of the American economy and pledged to defend the institution’s autonomy if confirmed.
Still, Democrats appeared unconvinced.
The hearing grew even more uncomfortable when Warren shifted the discussion toward Warsh’s financial disclosures and possible indirect links to Jeffrey Epstein.
Warsh reportedly holds hundreds of millions of dollars in investments, including at least one fund valued at more than $100 million whose underlying assets have not been fully detailed publicly.
Warren pressed him on whether any of those investments involved businesses connected to Trump, money laundering operations, Chinese-controlled firms, or financing vehicles associated with Epstein.
Warsh declined to directly answer the question but stated he would divest from his financial holdings if he officially became Fed chairman.
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