Kevin Warsh appeared before the Senate Banking Committee as the nominee for Federal Reserve chair, revealing a personal fortune exceeding $100 million. Republicans described the former Fed Governor as a "battle-tested" economist, while Democrats, including Senator Elizabeth Warren, warned of a "catastrophe" for the bank's independence. Warsh, who entered public service following the events of 9/11, told the committee he has "lived the American Dream." While politicians debate his allegiances, investors are focused on his approach to monetary policy. Read the full story at Fortune (subscription).
Source · Fortune
