Fed Nominee Warsh Faces Senate Scrutiny Over Asset Divestment Plan
Kevin Warsh, the nominee for the Federal Reserve chief, faced intense questioning from Democratic senators during his confirmation hearing regarding his plan to divest tens of millions of dollars in financial assets. Warsh, who previously served on the Fed's Board of Governors, has committed to divesting virtually all of his financial assets to ensure his independence and the clarity of his financial record. This move is part of his effort to re-establish the Fed's credibility. However, Democratic Senator Elizabeth Warren challenged Warsh on the specifics of his divestment plan, questioning what assets he plans to sell and how the sales will be conducted. Warsh has agreed to sell his assets within 90 days of taking office, but he declined to disclose specific details about the assets or potential buyers. Republican Senator Thom Tillis defended Warsh, stating that accusations of non-compliance with central bank ethics rules were unfounded. Tillis also noted that Warsh's confirmation would be delayed until t... 
