Elizabeth Warren: ‘Yes, I Would Try to Block’ Trump’s Nominee to Fill Lisa Cook’s Seat at the Fed

EXCERPT:

WARREN: “Look, Donald Trump cannot fire Lisa Cook based on at least the facts or non-facts than have been presented thus far. Again, this is about independence of the Fed and Donald Trump’s efforts to seize control over the Fed. And, yes, I would try to block that. And I would think the Republican senators who also care about independence of the Fed would do the same. You know, I just want to remind everyone why we have an independent Fed, and that’s true whether you have a Democrat in the White House or a Republican in the White House. You, in theory, have a group of people out there who look at the economic numbers and they make decisions on things like interest rates as best they can, based on those numbers, not based on political pressure from the president of the United States. If Donald Trump destroys that, sure, he may be able to get what he wants on interest rates in the short-term, but he undermines confidence in the Fed and its decision-making and its rate setting. We’ve seen this before, when autocrats have taken over central bank in places like Turkey. What happens is interest rates shoot through the roof. And that is a real problem for our economy. Everybody has a stake in an independent Fed, and to let Donald Trump just destroy that without even pushing back is a terrible mistake.”