Democrat Senator Elizabeth Warren from Massachusetts says that the American markets will witness a new collapse as FED chairman Jerome Powell loses his job because of President Trump.
In a new interview on CNBC Squawk Box, Warren says that it would be disastrous for the American markets such as Trump in one way or another manages to force Powell.
“If chairman Powell can be dismissed by the President of the United States, this would crash the markets in the United States. The infrastructure that keeps this stock market strong and therefore a large part of our economy strong, and therefore a large part of the world economy is strong, the idea is that the large pieces exercise independently of politics, that someone makes their best decisions.
We understand that if the New York Stock Exchange, if the interest rates in the United States are subject to a president who just wants his magic wand, this does not distinguish us from another Tweebits dictatorship around the world where everyone knows what your really big investment risk is w wSick that dictator wakes up in the morning and has a abdominal pain and decides to cause this problem, or prefer to give that friend?
That is why we must strengthen the infrastructure. “
Reuters recently reported that Trump ‘studies’ to see if he can dismiss Powell, who has served as FED chairman since 2018 and was appointed by Trump during his first term. Despite the fact that the appointment of Trump is Powell’s relationship with Trump has lately tense due to conflicts in interest rate views.
Trump wants the Fed to reduce interest rates immediately, but Powell has established that the correct way of acting is patient and keeps the rates stable.
https://www.youtube.com/watch?v=Gapxutkdnem
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