Fed Chair Nominee Warsh Faces Conflict-of-Interest Questions Over Crypto Account Dispute

Trump nominated former Federal Reserve governor Kevin Warsh on January 30, 2026, to succeed Jerome Powell when his term expires on May 15. Given the Fed’s authority over interest rates and the payments system, Elizabeth Warren sought clarity on Warsh’s assets of more than $100 million, his position on the 2008 bailouts and whether he would allow the Trump family’s World Liberty Financial to obtain a Fed master account.

At an April 21 Senate Banking Committee hearing, Warsh pledged to preserve the Fed’s independence and divest conflicting assets but did not fully answer Warren’s questions. After the Justice Department ended its criminal investigation into Powell on April 24, Republican Senator Thom Tillis withdrew his opposition. The committee advanced the nomination to the full Senate on April 29 in a 13–11 party-line vote.