Warsh noted that selling his holdings comes with challenges. He said that when that process was completed, he would have “virtually no financial assets” and “we’ll be sitting in something like cash.”
Warren, however, questioned him about the divestment plan. “Do we have any way to verify that, in fact, these sales will occur if we have no idea what’s in them?” she asked.
Senator Thom Tillis, a Republican who has said Warsh will not get a confirmation vote until the Trump administration’s criminal probe of Fed Chair Jerome Powell and a central bank renovation project are ended, defended Warsh after another Democratic senator said it appeared the Fed chief nominee would be out of compliance with central bank ethics rules.
“I thought it felt like a cheap shot to say, he’s out of compliance when in fact he’s not,” Tillis said.
Tillis, however, repeated that Warsh’s confirmation would be delayed as long as the probe of Powell was ongoing.