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‘Trying to Get Two Million People Laid Off’: Elizabeth Warren Calls for Jerome Powell’s Ouster for Trying to Cause a Recession [1]
['Mike Is A Mediaite Senior Editor Who Covers The News In Primetime.']
Date: 2023-03-22 22:23:41+00:00
Sen. Elizabeth Warren (D-MA) called for the removal of Federal Reserve Chairman Jerome Powell, who she said is trying to tank the economy on purpose.
On Wednesday, the Fed announced a ninth consecutive rate hike as the central bank tries to ease inflationary pressures. The Fed, which oversees monetary policy, has a dual mandate of full employment and price stability, though the former has clearly taken a backseat to the latter in the Fed’s policymaking decisions.
With the cost of borrowing increasing, consumers are more likely to cut back on spending. That in turn often leads to layoffs as companies respond to declining revenues.
On Wednesday’s installment of The Lead, Jake Tapper asked Warren if she’s told President Joe Biden that Powell should go.
“Have you ever directly told President Biden that you think he should fire the chair, Jerome Powell?” he asked. “And who would you like to see replace him?”
“So, I’m not gonna talk about private conversations,” she replied. “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 asked the senator if she thinks the U.S. is headed for a recession.
“I think that that is where Jerome Powell is trying to drive it,” Warren responded.
“You think he’s purposely trying to drive it to a recession?” said Tapper, taken aback.
“Well, what he’s trying to do is get two million people laid off,” she answered. “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 finished her response by calling Powell “a dangerous man to have in this job.”
In testimony before the Senate this month Powell stated he is trying to “cool the economy,” as Sen. John Kennedy (R-LA) accused him of “trying to put people out of work.”
Watch above via CNN.
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[1] Url:
https://www.mediaite.com/tv/trying-to-get-two-million-people-laid-off-elizabeth-warren-calls-for-jerome-powells-ouster-for-trying-to-cause-a-recession/
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