Summary
Senator Elizabeth Warren wants the Senate Banking Committee to focus on President Trump's attempts to influence the Federal Reserve's independence. She is particularly concerned about Trump's recent actions of threatening to fire Fed officials and his nomination of an economist who supports more presidential control over the Fed.
Key Facts
- Senator Elizabeth Warren is asking for attention on President Trump's influence over the Federal Reserve (Fed).
- Stephen Miran, nominated by Trump for a Fed position, has views supporting more presidential control.
- The Senate Banking Committee plans to question Miran about his nomination and views.
- Trump has threatened to fire Federal Reserve Chairman Jerome Powell and another Fed board member, Lisa Cook.
- Warren argues that undermining Fed independence could lead to higher mortgage, car loan, and credit card interest rates.
- Countries with non-independent central banks often experience higher inflation, affecting working people the most.
- Warren has criticized Fed Chair Jerome Powell's past policies, including his stance on interest rates and bank regulations.
