Kevin Warsh on the Brink of Taking Office, Accelerating Completion of Financial Asset Divestment Pledge

Odaily Odaily: Kevin Warsh has sold off most of the financial assets he pledged to divest before assuming the role of Federal Reserve Chair. The latest government documents show this is a crucial step to resolve controversies surrounding his nomination process.

As one of the wealthiest Federal Reserve officials in history, Warsh obtained a "Certificate of Divestiture" dated May 16 from the U.S. Office of Government Ethics (OGE). The document reveals that he has sold multiple investment holdings valued at least $100 million, though the underlying assets of these investments had not been previously disclosed. However, the document omitted two assets that Warsh had previously pledged to divest before taking office, each valued between $250,000 and $500,000.

According to the financial disclosure documents Warsh submitted during the nomination process, his assets are estimated to be at least $192 million. However, due to the interval-based reporting format, it is widely believed that his actual wealth may be higher. (Jin10)