- Key insight: Kevin Warsh's financial disclosures means that the Senate Banking Committee can hold a hearing next week as planned on his Federal Reserve nomination.
- Forward look: Until the Department of Justice drops its case against Federal Reserve Chairman Jerome Powell, Sen. Thom Tillis, R-N.C., said he won't vote for any Fed nominee, including Warsh, effectively stopping the nomination.
- What's at stake: Warsh's filing reveals deep wealth that surpasses that of other Fed Board members, just as Republican messaging for the 2026 midterm elections centers around affordability.
WASHINGTON — Kevin Warsh's
The filings disclosed that Warsh had more than $100 million in assets, far more than past Fed chairman.
The paperwork also means that the Senate Banking panel, chaired by Sen. Tim Scott, R-S.C., can hold a confirmation hearing. Scott, in an interview on Fox Business, said the committee will have a hearing next week.
"Next week we'll have a hearing with Kevin Warsh being present," Scott said in the interview. "We'll talk through the economy. We'll talk through price stability and inflation. We'll talk about the independence of the Fed."
Scott also said that he believes the Department of Justice will close an investigation into Fed Chairman Jerome Powell over the Fed building renovation project. Powell, who has striven to stay out of political discussions during his tenure at the central bank, said that the investigation is
The saga has pried off a key source of support for Warsh's nomination. Sen. Thom Tillis, R-N.C., a member of the Senate Banking Committee, has said he will
"I believe that the DOJ will finish and wrap this up in the next several weeks and Thom Tillis will be a yes on Kevin Warsh," Scott said.
Warsh's nomination and hearing mean that his financial disclosures and ethics report are now public. While these filings are usually routine, concerns about conflicts of interest plagued the last Trump administration nominee to the Fed Board, Stephen Miran, who said he will not resign from the White House's economic advisory council during what is meant to be a temporary position at the central bank.
Warsh's
The largest holdings in Warsh's disclosure are two in "Juggernaut Fund," worth more than $50 million each. He also disclosed $10.2 million in consulting fees from investor Stanley Druckenmiller.
Many of Warsh's holdings are confidential, according to the filings, and many others are smaller estimates, making it impossible to get a precise figure. Warsh's wealth and that of his wife, Jane Lauder, the granddaughter of cosmetics titan Estée Lauder and whose net worth is estimated by Forbes at $2 billion, is significant. For comparison, Powell's filings at the time of his nomination in 2017 were estimated at around $19.7 million and $55 million.
Warsh is invested in many tech companies according to the filing, including stakes in Elon Musk's SpaceX and the prediction market fund Polymarket. He also has holdings in a company called Cafe X which is described as a "robotic coffee bar platform," a "bionic movement-enhancing wearable clothing" company called Cionic and a "reversible male contraceptive
Solution" called Contraline.
There's also ties to the crypto industry. Warsh's disclosures list stakes in Polychain, a crypto investment company, DeSo, a social crypto-networking platform, and Eulith, a crypto-trading platform, among many others.
Warsh also reported income from United Parcel Service, where he serves on the board of directors, and speaking fees from a number of Wall Street companies including Warburg Pincus and State Street.
Warsh promised to divest from many of his holdings, per Fed rules, should he be confirmed. He would be in compliance with government rules once he divests, the Office of Government Ethics said in the report.
