Senator Elizabeth Warren, a Democrat from Massachusetts and ranking member of the Senate Banking, Housing, and Urban Affairs Committee, during a hearing in Washington, DC, US, on Thursday, March 26, 2026.Aaron Schwartz | Bloomberg | Getty ImagesSen. Elizabeth Warren sent a blistering letter to Federal Reserve chair nominee Kevin Warsh on Thursday, predicting he would serve as a “rubber stamp for President Trump’s Wall Street First Agenda,” and accusing him of having learned “nothing from your failures” during a prior stint at the central bank.Warren, D-Mass, in the letter reported first by CNBC, told Warsh that his record as a member of the Fed’s Board of Governors from 2006 until 2011 — which included the 2008-09 financial crisis and Great Recession — “should disqualify you from a promotion.””But President Donald Trump has vowed that ‘anybody that disagrees with’ him ‘will never be the Fed Chairman,’ ” Warren noted. “And you, apparently, have passed his test,” she added.”As Fed Chair, you will be responsible for directing economy-altering policies that have seriousconsequences for American workers and communities,” Warren wrote. “However, your track record leading up to, during, and after the 2008 financial crisis raises significant concerns about your ability to do so.”The letter, which CNBC obtained before it was publicly released, asked Warsh pointed, detailed questions about 10 different subject areas to be answered for his confirmation hearing at the Senate Banking Committee, where Warren is the ranking Democrat.But those queries were buried at the bottom of what reads as a scathing, eight-page indictment of his tenure at the Fed, and what she called his advocacy “against tougher safeguards intended to prevent big bank failures and taxpayer bailouts” after he left the central bank.”I write to better understand what, if anything, you’ve learned from your failure to prioritize American families over Wall Street before, during, and after the 2008 financial crisis while serving as a member of the Board of Governors of the Federal Reserve System,” Warren said in the letter’s first sentence. “Rather than implementing policies to improve the lives o …
