Elizabeth Warren Says Powell Shouldn’t Be Fed’s Chairman

(AmericanProsperity.com) – Massachusetts Democratic Senator Elizabeth Warren criticized Federal Reserve Chairman Jerome Powell and even said he shouldn’t hold this position anymore during a Sunday interview at CBS News’s “Face the Nation.” The former presidential candidate lashed out at his job performance and accused him of failing to control inflation and taking “a flamethrower” to bank regulations during the Trump era.

In the interview, Warren said that Trump ran for president promising he would lighten regulations on big banks, and then Powell destroyed these regulations with the goal of making them less effective. She then claimed she “opposed him as Chairman of the Federal Reserve” because of this, and even accused him of being “a dangerous man” for such an important position as he allegedly wants to help big banks in the United States.

Finally, the former presidential candidate claimed that Powell must face “accountability,” as well as the numerous financial regulators she accused of delivering a poor performance at their jobs. She also said that every single financial executive who enabled the collapse of the Silicon Valley Bank (SVB) with irresponsible investments must pay for their role in this incident.

Since last week, Powell and the Federal Reserve have been criticized by numerous voices on both sides of the political aisle, following the unexpected collapse of the tech lender, which has exacerbated fears across the US banking industry after California regulators decided to shut it down. Progressives and left-wing radicals have been criticizing Powell’s period as the Federal Reserve Chairman as they believe in a stronger state intervention through regulations.

Powell was appointed as the head of the central bank during the Trump administration in 2018. He was eventually reappointed by President Joe Biden in 2022, with many Democrats, including Warren, manifesting their disagreement with this decision, claiming that Powell didn’t deserve another term as the head of the central bank.