Warren Presses Incoming Fed Chair Kevin Warsh to Divest Assets

Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee, has called on incoming Federal Reserve Chairman Kevin Warsh to immediately divest his financial assets, Jennifer Schonberger reported for Yahoo Finance.

Sen. Elizabeth Warren has called for incoming Fed Chair Kevin Warsh to divest financial holdings before taking office. (Photo: Gage Skidmore Flickr)

“I write to request an update on the status of your divestments — including information about who you sold your assets to, and on what terms,” Warren wrote.

Warsh is required to divest certain holdings before assuming the position of Fed chair. During his April confirmation hearing, Warren pressed him on whether he would disclose how he planned to divest his assets.

Warsh said he had “worked tirelessly” with the Office of Government Ethics (OGE) and agreed to sell all financial assets if confirmed.

Warsh reportedly holds significant undisclosed investments in the Juggernaut Fund, including two holdings valued at more than $50 million each. The fund is managed by Duquesne Family Office, the investment firm of billionaire hedge fund manager Stanley Druckenmiller.