Sen. Elizabeth Warren criticized Federal Reserve Chairman Kevin Warsh, saying he ‘seems to invite corruption’ during his second day of monetary policy testimony on Capitol Hill. Warren repeatedly asked Warsh if he had questioned Fed Vice Chair for Supervision Michelle Bowman about attending a private gathering of bankers hosted by Bank of America, where she discussed interest rates.
Investigation Ongoing
Warsh refused to answer, stating that the matter is being investigated by the Fed’s inspector general, Michael Horowitz. He acknowledged a letter Warren sent to the inspector general about the issue. The incident occurred during the ‘blackout period,’ when central bank officials are barred from speaking publicly or privately about monetary policy.
Original reporting: KRDO (Colorado Springs metro) — read the source article.
