Sen.
Elizabeth Warren sends letter to incoming Fed Chair Kevin Warsh to press him on asset divestment Sen
Elizabeth Warren, the top Democrat on the Senate Banking Committee, sent incoming Federal Reserve Chair Kevin Warsh a letter about his assets on Friday morning. “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 make divestments before assuming the position of chair. Warren pressed Warsh during his April nomination hearing on whether he would disclose how he planned to divest his assets.
Warsh said he has “worked tirelessly” with the Office of Government Ethics and agreed to sell all his financial assets if confirmed. Warsh holds significant undisclosed investments in a vehicle called the Juggernaut Fund, with two holdings valued at more than $50 million each. The fund is managed by Duquesne Family Office, the personal investment firm of billionaire hedge fund manager Stanley Druckenmiller.