Trump's Fed Chair nominee Kevin Warsh avoids Epstein question, promises $100M divestment if confirmed

President Donald Trump's nominee to serve as the next Federal Reserve chair, Kevin Warsh, was grilled over his $100 million in undisclosed investments, as he testified Tuesday before the Senate Banking Committee. Senator Elizabeth Warren questioned whether any of those investments were tied to "vehicles set up to advance Jefferey Epstein." Warsh refused to answer the question directly, asserting that he would sell those financial assets if confirmed to succeed Jerome Powell, whose tenure ends in May.

Warsh's 69-page financial disclosure document pegs his total wealth at nearly $200 million, with over $100 million undisclosed due to "pre-existing confidentiality agreements." These lists over $50 million investments in assets under two holdings, THSDFS LLC and Juggernaut Fund, LP, connected to Duquesne Family Office, the financial firm run by investor Stanley Druckenmiller. Warren, reminding Warsh about the "deeply disturbing ethics scandals in recent years involving at least six Fed officials," asked him if any of these investments could lead to "financial conflicts."

"Do the Juggernaut Fund or the THSDFS LLC invest in any companies affiliated with President Trump or his family? Companies that have facilitated money laundering, Chinese-controlled companies, or financing vehicles established by Jeffrey Epstein?" the Massachusetts Senator asked. As Warsh tried to respond by "sharing a point of agreement" about the "ethics problems" and "core of credibility", Warren interrupted, demanding a direct answer to her questions. 

"Would you answer my question, please?" Warren said, "You have a hundred million dollars in undisclosed assets, and what I'm asking is, are any of those with this outfit that invests in companies affiliated with President Trump or his family? Companies that have facilitated money laundering, Chinese-controlled companies, or financing vehicles set up by Jeffrey Epstein? It's a yes or no question." Warsh, in his response, said that the Juggernaut assets "will be sold if I'm confirmed." 

Warren followed up the question by asking the President's nominee if he would "disclose and divest these secret assets." "I'm sure you understand that the public might question your motives if, for example, billionaire Stanley Druckenmiller—uh, who you honored in your opening statement and who makes a living guessing what the Fed will do next—uh, cuts you a massive check for $100 million as you take the oath of office to become the new Federal Reserve Chair?" Warren asked. While Warsh said he would divest those assets, he refused to say whether he would disclose how he did so.