Fed Chair nominee Warsh says will pursue broad divestment of assets if confirmed
By Michael S. Derby
April 21 (Reuters) - Federal Reserve Chair nominee Kevin Warsh told senators Tuesday he would meet a divestiture pledge if confirmed to lead the central bank but declined to go into detail about how he would unload the millions in assets.
“So that there's no question about my independence, no question about the clarity of my financial record, I agreed to divest virtually all of my financial assets, the large majority of which will be divested before I raised my right hand and sworn into office,” Warsh told a Senate panel. “I've gone above and beyond, not for any other special reason other than the Fed needs to re-establish its credibility,” although Warsh declined to answer questions about the logistics of how he would divest and who might buy those assets.
