‘We don’t want to be in bailout business fullstop’: Kevin Warsh shuts down ‘suspicious’ Sherman

A tense Capitol Hill hearing saw Federal Reserve Chair nominee Kevin Warsh reject any expectation of future bailouts, declaring the Fed is “not in the bailout business”—including for cryptocurrency firms. Rep. Brad Sherman pressed Warsh over crypto risks and financial stability, but Warsh insisted the Federal Reserve should not rescue failing institutions or digital asset markets. The clash reignited debate over crypto regulation, bank bailouts, Federal Reserve policy, and the future of digital finance in the U.S.