Sen. Elizabeth Warren (D-MA) said he was “pleasant” to publicly blow up Federal Reserve Chairman Jerome Powell on Thursday on CNBC’s “Squawk on the Stroke,” and that he was responsible for his unemployment. However, “If Speaker Powell is fired by the US President, the US market crashes,” because it overturns the Fed’s independence from politics.
Warren said, “I’m regularly intertwined about both regulations and interest rates. But understand this: If Chairman Powell is fired by the US President, the US market will crash. And then independently.”
She further said that it would be dangerous if financial regulators could put pressure on them by elected officials.
Co-host Carl Quintanilla asked, “You’d agree to jaw-bond between executives and the federal government, right?”
Warren says, “Joe Bonning is different. … Well, in part, Jaw Bonning occurs in public places, but no one threatens anyone’s job. At the end of the day, the president always says you’re the one who makes decisions, building your jaws.
Quintanilla cut, saying, “You said he was responsible for cutting jobs of 2 million people.”
Warren said, “I believe it. I’m glad you did it. Do it at the hearing. It’s called surveillance, but it’s all public and anyone can see it, I don’t threaten his work. And the US president shouldn’t threaten his work.”
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