Warren calls Fed nominee Kevin Warsh a ‘sock puppet’ for Trump when he hears it
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Sparks flew on Capitol Hill as Sen. Elizabeth Warren, D-Mass., accused Federal Reserve nominee Kevin Warsh of being a “sock puppet” for President Donald Trump.
Warsh, tapped by Trump in January to lead the Federal Reserve, faced a two-and-a-half-hour confirmation hearing before the Senate Banking, Housing, and Urban Affairs Committee.
If confirmed, he will run the world’s most powerful central bank, shape interest rates, borrowing costs and the financial outlook for millions of American households over the next four years.
WHO IS KEVIN WARSH, TRUMP’S CHOICE TO SUCCEED JEROME POWELL AS THE TERM CHAIR?
Kevin Warsh, the chairman-elect of the Federal Reserve, listens to the senior member Sen. Elizabeth Warren, D-Mass., makes opening statements during a confirmation hearing of the Senate Banking, Housing and Urban Affairs Committee in the Dirksen building on Tuesday, April 21, 2026. (Tom Williams/CQ-Roll Call, Inc via Getty Images)
In his inaugural address, Warren slammed Warsh’s record and questioned his independence, saying he was “unfit for the job of Fed chairman” and warned that he could give Trump central bank power.
He blamed Warsh for empowering Wall Street during the 2008 financial crisis, which collapsed during his tenure as Federal Reserve governor from 2006 to 2011.
“At our meeting last week, we talked about the financial crash of 2008, when 8 million people lost their jobs, 10 million people lost their homes and millions lost their livelihoods,” said Warren. “The big banks, however, got hundreds of billions of dollars to bail them out… and he told me he doesn’t regret anything he did.”
He added that Warsh “worked tirelessly to orchestrate a multibillion-dollar bailout” of Wall Street executives, with nothing for American families.
The hearing became more heated as Warren focused on ethical issues, pressing Warsh about his undisclosed finances and questioning him about business links to convicted sex offender Jeffrey Epstein.
The two talked over each other and raised their voices in a heated exchange on Capitol Hill.
WARSH’S WORTH IS $226 MILLION UNDER CROTCH AS SENANA’S ENDORSEMENT NOMINEE
Sen. Elizabeth Warren: The Fed has been plagued by the most disturbing ethics scandals in recent years. It is important that the next chair has no financial conflict – there is none. He has more than $100 million in investments which he refused to disclose. So let me ask: does the Juggernaut Fund or THSDFS LLC invest in companies connected to President Trump or his family, companies tied to money laundering, Chinese controlled firms, or financing vehicles connected to Jeffrey Epstein?
Kevin Warsh: Senator, I worked closely with the Office of Government Ethics and agreed to divest all of my financial assets.
Warren: Can you please answer my question? He has undisclosed assets of over $100 million. Are any of those investments connected to the organizations I just listed? A yes-or-no question.
Warsh: I worked diligently with ethics officials and agreed to sell all my assets before taking the oath of office.
Warren: Are you refusing to tell us if you invested in vehicles linked to Jeffrey Epstein? Won’t you just say?
Warsh: What I am telling you is that those goods will be sold if I am confirmed.
Warren: Will you disclose how you plan to split these assets? The public may question your motives if, for example, someone who profits from predicting Fed policy drops you a $100 million check as you take office.
Senior member Sen. Elizabeth Warren, D-Mass., questions Kevin Warsh, Federal Reserve chairman-designate, during his confirmation hearing of the Senate Banking, Housing and Urban Affairs Committee on Tuesday, April 21, 2026. (Tom Williams/CQ-Roll Call, Inc via Getty Images)
Warsh: I have reached a full settlement with the Office of Government Ethics and will forfeit those assets before being sworn in.
Warren: I am asking a direct question. Will you disclose how you dispose of those assets?
Warsh: As I said, I have worked with ethics officers.
Warren: I’ll take that as a sign.
In a separate exchange, Warren invoked Trump’s past statements about the Fed and challenged Warsh to prove his independence in real time.
He insisted that Warsh answer whether he believed Trump won the 2020 presidential election and that he could name the president’s policies with which he disagreed. The Fed chairman is hoping to avoid the question and said he will stay in politics, if confirmed.
ONE LINE IN WARSH’S TESTIMONY THAT SIGNALS A REST IN THE FED’S STATUS.
Warren: Donald Trump has made it clear that he does not want an independent Fed. He said, “Anyone who disagrees with me will never be the chairman of the Fed.” He also said interest rates would drop “if Kevin comes in.” Let’s test your independence and courage. We’ll start easy. Mr. Warsh, did Donald Trump lose the 2020 election?
Warsh: Senator, we must keep politics out of the Federal Reserve.
Warren: I am asking an honest question.
Warsh: This organization confirmed the election.
Warren: That’s not what I asked. Did Donald Trump lose in 2020?
Warsh: The Fed should get out of politics.
Warren: In our meeting, he said he is a “tough guy” who can stand up to President Trump. So name one aspect of his economic agenda that you disagree with.
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Kevin Warsh, US Federal Reserve chairman-designate, listens to a question during a hearing of the Senate Banking, Housing, and Urban Affairs Committee on Tuesday, April 21, 2026. (Graeme Sloan/Bloomberg via Getty Images)
Warsh: That’s not something I’m willing to do. The Fed should stay on course.
Warren: Just one area where you disagree.
Warsh: I have one disagreement – he said I looked like I was out of a role play. I think I will look old and gray.
Warren: That’s lovely. But we need an independent Fed chairman. If you can’t answer these questions, you don’t have courage or independence.
