financetom
Economy
financetom
/
Economy
/
Fed chief nominee Warsh pledges new divestment in updated financial filing
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Fed chief nominee Warsh pledges new divestment in updated financial filing
Apr 20, 2026 9:20 AM

April 20 (Reuters) - Federal Reserve Chair nominee Kevin Warsh has pledged to divest from a foreign-oriented investment fund if confirmed to lead the U.S. central bank, according to an updated financial disclosure filing.

In a filing dated April 17 that amended an original filing on April 10, Warsh told the Fed's ethics officer, "I will divest my interests in iShares S&P/TSX 60 Index (XIU)" if confirmed to succeed Fed Chair Jerome Powell in the central bank's top job. Warsh, a financier and former Fed governor, said he would make this move because "agency ethics officials have since advised me that the duties of my position will involve particular matters affecting the financial interests of the underlying holding" in the fund.

The fund that Warsh says he will divest from targets Canadian equities. Current Fed rules governing what investments policymakers and their immediate family members can hold limit exposure to foreign investments, among a broad range of other rules banning certain types of investments and how affected central bankers can manage their holdings.

Warsh's overall disclosures released last week showed that the Fed nominee, who faces a confirmation hearing on Tuesday before the Senate Banking Committee, is extremely wealthy and holds a wide range of investments, many of which are not fully disclosed, that he said he will have to sell if he's confirmed for the top Fed job.

His confirmation, however, has been clouded by a legal investigation into the Fed and its current leadership. A number of legislators have vowed that Warsh will not be confirmed until it is resolved, which makes it highly unlikely he will be in place to take over when Powell's tenure as Fed chief ends on May 15.

"I continue to believe that Mr. Warsh is in compliance with applicable laws and regulations governing conflicts of interest," the Fed's internal ethics officer wrote in the latest filing.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US Dollar Improves Early Friday Ahead of Fed Appearances, State Unemployment
US Dollar Improves Early Friday Ahead of Fed Appearances, State Unemployment
Mar 22, 2024
07:38 AM EDT, 03/22/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for a decline versus the yen, ahead of a series of appearances by Federal Reserve officials that compensate for a lack of major US data. Fed Chairman Jerome Powell is scheduled to make opening remarks at a Fed Listens conference at...
US Congress scrambles to pass $1.2 trillion spending bill, midnight deadline looms
US Congress scrambles to pass $1.2 trillion spending bill, midnight deadline looms
Mar 22, 2024
WASHINGTON (Reuters) - The Republican-controlled U.S. House of Representatives and Democratic-majority Senate on Friday will scramble to beat a midnight government shutdown deadline by passing a $1.2 trillion bill keeping the government funded through September. If they succeed, it will end a more-than-six-month battle over the scope of Washington's spending for the fiscal year that began Oct. 1. If they...
U.S. companies' stock purchases via buybacks, M&A to hit 6-year high in 2024, Goldman says
U.S. companies' stock purchases via buybacks, M&A to hit 6-year high in 2024, Goldman says
Mar 22, 2024
(Reuters) - U.S. companies' purchases of domestic equities through more stock buybacks and corporate acquisitions will hit a six-year high of $625 billion this year, about as much as mutual funds and pension houses will offload, Goldman Sachs said. A surge in share buybacks and continued growth in cash mergers and acquisitions (M&A) will be the primary drivers of corporate...
Fed Chair Powell says pandemic has had lasting effects on economy
Fed Chair Powell says pandemic has had lasting effects on economy
Mar 22, 2024
(Reuters) - Federal Reserve Chair Jerome Powell on Friday opened a Fed Listens event on how Americans are experiencing the economy, saying the pandemic has had lasting effects and that to make good policy the U.S. central bank cannot rely only on macroeconomic data but needs to hear directly from people and businesses. He did not make any remarks about the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved