Markets will “crash” if President Donald Trump fires Federal Reserve Chairman Jerome Powell, Sen. Elizabeth Warren, D-Mass., warned. The Senate Banking Committee’s ranking member argued that Trump’s relentless attacks risk undermining the independence of the Fed. Trump denied that he plans to fire Powell, though he left the door open to do so.
Stock and bond markets and the value of the U.S. dollar will plunge if President Donald Trump fires Federal Reserve Chairman Jerome Powell, Sen. Elizabeth Warren warned Thursday.
“I think they crash,” Warren, D-Mass., said on CNBC’s “Squawk Box” when asked what would happen if Trump succeeds in pushing Powell out as head of the U.S. central bank.
As the top Democrat on the Senate Banking Committee, Warren has criticized Powell’s decision making in the past. But she argued