On Wednesday, Senator Elizabeth Warren appeared on CNN’s “The Lead” and rallied for Federal Reserve Chairman Jerome Powell to be removed because he is “trying to drive” the United States economy into a recession.
While speaking about Powell raising interest rates, CNN host Jake Tapper asked, “Have you ever directly told President Biden that you think he should fire the chair, Jerome Powell? And who would you like to see replace him?”
Warren replied, “So, I’m not going to talk about private conversations, but what I will say is I made it very clear as publicly as humanly possible that I didn’t think that he should be reconfirmed as chair of the Fed. And I think he’s doing a really terrible job.”
Tapper pressed, “Do you think the United States is headed for a recession?”
Warren danced around a direct answer, “I think that that is where Jerome Powell is trying to drive it.”
Tapper asked, “You think he’s purposely trying to drive it to a recession?”
Warren answered, “Well, what he’s trying to do is get two million people laid off. And one of the things that we need to understand, he wants to raise the unemployment rate by more than a point within a single 12-month period.
We have done that before in this country. In fact, we have done it 12 times before. And out of all 12 times. How many times has it resulted in a recession? The answer is 12.”
She added, “That is the direction he is trying to push this. That is a danger to our economy. It’s why I said five years ago I think he a dangerous man to have in this job.”
Remember when former President Donald Trump wanted to fire Powell for doing a “bad job” but Democrats threw a fit because it would “wreak havoc” on the financial market? And then President Joe Biden nominated Powell for another term….I’m sure Warren overlooked all those details.
