Warsh's $226-million fortune under scrutiny as Fed nominee faces Senate confirmation

By Fox News · Fox News

Kevin Warsh heads into his Senate confirmation hearing Tuesday morning vying to be the richest-ever chair of the Federal Reserve amid mounting questions over his sizable financial portfolio. Newly released disclosures reveal the extent of Warsh’s wealth but leave key portions of his holdings unclear, which could complicate his path toward confirmation since the position he is up for wields enormous influence over financial markets. The disclosures are likely to draw scrutiny from lawmakers due to potential conflicts of interest and concerns over transparency, both central focuses of the confirmation process — particularly at a time when the central bank’s credibility is already under a microscope. TRUMP'S PICK TO LEAD THE FEDERAL RESERVE MEETS GOP SENATOR HOLDING UP HIS CONFIRMATION According to documents submitted to the Senate last week, Warsh reported assets valued at roughly $135 million to $226 million, positioning him to become the wealthiest chair in the Federal Reserve’s history if confirmed. The nearly 70-page filings, released by the U.S. Office of Government Ethics as part of the standard vetting process for senior nominees, detail a portfolio spanning investments, board roles and other financial interests. TRUMP'S FED PICK DISCLOSES $131M FORTUNE AS NOMINATION FACES HEADWINDS Still, the disclosures leave some gaps. For example, certain holdings are listed in broad ranges or lack full detail, a common feature of such filings but one that can draw scrutiny when nominees are poised to oversee institutions with vast influence over financial markets. In fact, a note from a government ethics official attached to the filings says Warsh is currently out of compliance with ethics rules for certain holdings where he did not disclose the funds’ underlying assets. The Office of Government Ethics said the rest of the filing meets federal requirements and that Warsh would return to full compliance once he divests those assets, which he has pledged to do within 90 day…