Sen. Elizabeth Warren (D-MA) criticized President Donald Trump on Thursday after he called for the Federal Reserve to cut interest rates – seven months after Warren told the Federal Reserve the same.
Warren appeared on CNBC on Thursday and said that Trump was risking a market “crash” after he posted on Truth Social that the Federal Reserve chairman’s “termination cannot come fast enough!” Trump has expressed frustration with the Fed chairman, Jerome Powell, in recent days over the level of the federal funds rate.
Warren said that Trump’s post was a threat to fire Powell. As an independent agency, the Federal Reserve’s chairman can only be removed by the president “for cause,” according to a 1935 Supreme Court ruling. “For cause” is typically interpreted to exclude disagreements over monetary policy.
“Understand this: if Chairman Powell can be fired by the…
