Warren: Fed Chair Powell ‘Trying to Drive’ U.S. into Recession

Warren: Fed Chair Powell ‘Trying to Drive’ U.S. into Recession

March 23, 2023

Wednesday on CNN’s The Lead, Sen. Elizabeth “You didn’t build that” Warren (D-MA) said Federal Reserve Chairman Jerome Powell should be removed because he is “trying to drive” the U.S. economy into a recession.

During a discussion about Powell raising interest rates, anchor Jake Tapper asked, “Have you ever directly told President Biden that you think he should fire the chair, Jerome Powell? And who would you like to see replace him?”

Warren replied, “So, I’m not going to talk about private conversations, but what I will say is I made it very clear as publicly as humanly possible that I didn’t think that he should be reconfirmed as chair of the Fed. And I think he’s doing a really terrible job.”

Tapper asked, “Do you think the United States is headed for a recession?”

Warren said, “I think that that is where Jerome Powell is trying to drive it.”

Tapper said, “You think he’s purposely trying to drive it to a recession?”

Warren said, “Well, what he’s trying to do is get two million people laid off. And one of the things that we need to understand, he wants to raise the unemployment rate by more than a point within a single 12-month period. We have done that before in this country. In fact, we have done it 12 times before. And out of all 12 times, how many times has it resulted in a recession? The answer is 12.”

She added, “That is the direction he is trying to push this. That is a danger to our economy. It’s why I said five years ago I think he a dangerous man to have in this job.”

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