Democratic Massachusetts Sen. Elizabeth Warren was visibly irritated at a CNBC host Wednesday for comparing her to President Donald Trump.
Warren argued on CNBC’s “Squawk on the Street” that Trump’s nominee to be the next Federal Reserve chairman, Kevin Warsh, is unfit for the job because of his close alignment with the president’s views. CNBC host Sarah Eisen reminded Warren of her own past support for Federal Reserve nominees who aligned with her on policy.
“I mean, you yourself have been very outspoken on this show and otherwise on what the Fed should be doing,” Eisen said. “You also advocated for Lael Brainard and Janet Yellen, who you were aligned with on policy views. I mean, this isn’t that different, you know, with the president expressing what he wants in terms of policy and who he wants.”
“I’m sorry, is that real?” Warren said. “It is not different to just say, here’s my opinion and here’s how I read the numbers and here’s who I think has a good track record? You think that’s the same as being the president of the United States and employing the Department of Justice to bring criminal charges against someone? Sending someone a notice that they have been fired? Donald Trump is not expressing an opinion. Donald Trump is trying to control the Fed. You know it and I know it. And what he’s also trying to do is to control the Fed by terrifying all of them.”
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Warren supported the confirmations of former Federal Reserve Vice Chair S. Lael Brainard and former Federal Reserve chair Janet Yellen to serve in the Federal Reserve, who were nominated by former Presidents Barack Obama and Joe Biden. She also accused Trump of trying to control the Federal Reserve by bringing a criminal inquiry against the current chair, Jerome Powell, who is accused of providing false or misleading testimony to Congress about costly renovations to the Federal Reserve building.
During the confirmation hearing on Tuesday, Warren asked Warsh on whether he disagreed with Trump on any aspect of his “agenda.” Warsh came up with a sarcastic reply, which seemed to annoy Warren.
“Name one aspect of President Trump’s economic agenda with which you disagree … I’m asking for something you disagree with Donald Trump on,” Warren said at the Senate Banking Committee hearing. “Just one, just one little place where you disagree with Donald Trump.”
“Well, I do have a disagreement actually, Senator, with the president,” Warsh said. “I think even this morning, he said that he thought I was out of central casting. I think central casting, I’d look older, grayer, maybe show up here with a cigar of sorts.”
“Quite adorable,” Warren replied. “But, you know, we need a Fed chair who is independent. That’s the only way we preserve the independence of the Federal Reserve. If you can’t answer these questions, you don’t have the courage and you don’t have the independence.”
Warsh highlighted the importance of the Federal Reserve’s independence during the hearing. He denied that he will be Trump’s “human sock puppet” and will refuse to take orders from the president on interest rates.
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