Senator Elizabeth Warren (D-MA) said Tuesday on MSNBC’s “The Last Word” that Fed Chair Jerome Powell should not be renominated because he is putting the U.S. economy in risk of another financial crisis.
O’Donnell said, “The fed chair is up. The appointment runs out next year. The president will reappoint the chair or a new one. What do you think is at stake in that question?”
Warren said, “You remember what happened in the early 2000s. That is, we had a federal reserve that was unwilling to reign the giant financial institutions. So a bit at a time, they deregulate here, they turn a blind eye there. And those financial institutions very quietly just loaded up on more and more and more and more risk until they blew up the entire economy, and the U.S. task payer was called on to bail them out. Millions of people lost their