April 14, 2026—Kevin Warsh, President Trump’s nominee to head the Federal Reserve, disclosed assets worth $100 million and professional positions and associations.
Warsh is expected to face questions about the independence of the central bank. The Senate Banking Committee could hold a confirmation hearing for Warsh this week or next. Senators are reportedly awaiting his response to a committee questionnaire. At least one senator, Sen. Thom Tillis, R-NC, has expressed reservations about confirming a new chair while the Trump administration maintains a criminal probe into Fed Chair Jerome Powell over the central bank’s renovations. Powell’s term as chairman expires on May 15, but he has the option of staying on the board.
Disclosures Display Deep Ties with Wall Street
Warsh’s disclosures display his experience working with Wall Street funds and on several corporate boards.
They come in two filings with the U.S. Office of Government Ethics. an independent agency within the executive branch of the government responsible for preventing conflicts of interest. The disclosures include a 69-page filing of holdings and a letter explaining current positions, in which he will resign.
Warsh owns advisory firms Vicarage LLC and Vicarage Corporation, of which he says he will resign. He said he will also step down from his position with Duquesne Family Office, LLC—a New York-based hedge fund with $4.5 billion in holdings, including stakes in holdings include Natera, Inc., Insmed Inc., Amazon.com, Teva Pharmaceutical, and State Street Financial. Warsh said he would resign and in some cases divest from his positions with:
- Bessemer Securities LLC and its subsidiary, Bessemer Securities Corporation;
- United Parcel Service;
- Coupang Inc.
- Aven Holdings;
- Vicarage Stable, LLC;
- Stanford University: Hoover Institution & Graduate School of Business;
- GoldenTree Asset Management LP;
- Heitman LLC;
- Cerberus Capital Management;
- The Center for Global Enterprise;
- Friends of the Washington Statue Foundation;
- Group of 30;
- Seminole Golf Club; and
- Bonnie Blink Management, LLC.
Warsh Background and Views
Warsh has vowed to implement “regime change” at the Fed. As previously reported in the GER, Warsh is also the son-in-law to Trump’s close friend, Ronald Lauder, the billionaire heir to the Estée Lauder Companies, who—incidentally—also sparked Trump’s interest in owning Greenland.
Warsh is known for taking a conservative stance on interest rate policy. In past speeches, Warsh has argued for less reliance on central bank liquidity, private market discipline, and sound fiscal and regulatory policy.
