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Trump's Fed Pick Warsh Reveals His Assets
Kevin Warsh is Trump's pick to lead the Federal Reserve. He released details of his money ahead of his confirmation hearing.
He has more than $100 million in assets. He promised to sell assets to avoid conflicts of interest. Divestment is required to become Federal Reserve chair.
Klear Note — The Federal Reserve controls US interest rates and money supply. Fed chairs must sell assets to avoid conflicts of interest during decisions.
Key Terms 4
- Federal Reserve
- The US central bank that controls interest rates and money supply
- confirmation hearing
- A meeting where leaders vote to approve a president's pick
- divestment
- Selling off assets to avoid unfair advantages in a new role
- conflicts of interest
- When personal money gains could affect fair decision-making