Trump’s Fed nominee, a wealthy investor, will face tough Senate questions about transparency

Democrats are expected to grill Kevin Warsh on his financial holdings, which amount to over $100 million.

FILE – Kevin Warsh speaks to the media about his report on transparency at the Bank of England, in London, Dec., 11, 2014. [Photo: Alastair Grant, Pool/AP Photo]

Kevin Warsh is taking another step toward his decade-long goal of winning the top job at the Federal Reserve by appearing at a hearing before the Senate Banking Committee on Tuesday. But the role that he may eventually assume could turn out vastly different than what he expected.Inflation is worsening as the Iran war has spiked gas prices, making it much harder for the Fed to implement the interest rate cuts President Donald Trump so desperately seeks. The conflict could also slow the economy as well as hiring. And if Warsh ultimately becomes chair, he may very well find his predecessor, Jerome Powell, still sitting on the Fed’s governing board, an uncomfortable arrangement that hasn’t occurred since the late 1940s.Warsh, a former top official at the Fed and a wealthy investor, will likely........

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