Sen. Elizabeth Warren of Massachusetts warned Thursday that the stock market might “crash” if President Trump tries to fire Federal Reserve Chair Jerome Powell.
Ms. Warren, a Democrat, said the independence of the Fed sends a critical “signal” to the global financial community that someone in the U.S. is filtering through economic data and making decisions outside of politics.
The senator, speaking on CNBC, said she disagrees with Mr. Powell a lot.
“But the independence itself is a value. It’s a value to the United States and some value to our markets,” Ms. Warren said. “If Donald Trump destroys that, then he brings down those markets. He burns something of value to the United States.”
And if the president pushes Powell out?
“I think they crash,” Ms. Warren said of the stock and bond markets and dollar value.
Mr. Trump is upset that Mr. Powell and the Fed haven’t slashed