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‘Trying to Get Two Million People Laid Off’: Elizabeth Warren Calls for Jerome Powell’s Ouster for Trying to Cause a Recession


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https://www.mediaite.com/tv/trying-to-get-two-million-people-laid-off-elizabeth-warren-calls-for-jerome-powells-ouster-for-trying-to-cause-a-recession/


 

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Sen. Elizabeth Warren (D-MA) called for the removal of Federal Reserve Chairman Jerome Powell, who she said is trying to tank the economy on purpose.

On Wednesday, the Fed announced a ninth consecutive rate hike as the central bank tries to ease inflationary pressures. The Fed, which oversees monetary policy, has a dual mandate of full employment and price stability, though the former has clearly taken a backseat to the latter in the Fed’s policymaking decisions.

With the cost of borrowing increasing, consumers are more likely to cut back on spending. That in turn often leads to layoffs as companies respond to declining revenues.

On Wednesday’s installment of The Lead, Jake Tapper asked Warren if she’s told President Joe Biden that Powell should go.

“Have you ever directly told President Biden that you think he should fire the chair, Jerome Powell?” he asked. “And who would you like to see replace him?”

“So, I’m not gonna talk about private conversations,” she replied. “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 the senator if she thinks the U.S. is headed for a recession.

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

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

“Well, what he’s trying to do is get two million people laid off,” she answered. “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 finished her response by calling Powell “a dangerous man to have in this job.”

In testimony before the Senate this month Powell stated he is trying to “cool the economy,” as Sen. John Kennedy (R-LA) accused him of “trying to put people out of work.”

 

 

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so a repuke is trying to sabotage the economy which would hurt millions of americans because he wants the dems to look bad? i am not shocked.

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15 hours ago, aubiefifty said:

so a repuke is trying to sabotage the economy which would hurt millions of americans because he wants the dems to look bad? i am not shocked.

Me too. Completely unnecessary. Dems make themselves look bad without needing any help. If JK and EW agree it must be really bad.

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17 hours ago, aubiefifty said:

so a repuke is trying to sabotage the economy which would hurt millions of americans because he wants the dems to look bad? i am not shocked.

This is not partisan at this level.  The preservation of wealth and capital is more important than humanity/society,,, to the people who actually control our country.  The only conscience in the Democratic party is,,, the progressives.

Wall St. is neither Republican nor, Democrat.  They are purely about power.  They ARE the power.  They are the enemy.  They do little other than exploit, disrespect, corrupt, embarrass our country.  Their army of lobbyists, their control of our monetary system, their elite networks are the government.

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What's going to get millions laid off is Bungling Biden's inflation. The Fed has no choice but to raise interest rates. If the Dems cared the least bit about the lower income folks they'd want inflation halted. Once again, it's apparent that the Dems only care about looking after their billionaire donors. "To hell with the working class" should be the Dem's new slogan because that's what their actions say.

Who does inflation hurt? The working class of course. Does Democrat billionaire donor Warren Buffett care if gas goes up a dollar a gallon? Of course not. Does the single mom who has to drive 45 miles to her job care? You bet she does!

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8 minutes ago, Mikey said:

What's going to get millions laid off is Bungling Biden's inflation. The Fed has no choice but to raise interest rates. If the Dems cared the least bit about the lower income folks they'd want inflation halted. Once again, it's apparent that the Dems only care about looking after their billionaire donors. "To hell with the working class" should be the Dem's new slogan because that's what their actions say.

Who does inflation hurt? The working class of course. Does Democrat billionaire donor Warren Buffett care if gas goes up a dollar a gallon? Of course not. Does the single mom who has to drive 45 miles to her job care? You bet she does!

How would Biden end inflation?

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3 minutes ago, TexasTiger said:

How would Biden end inflation?

Biden could by stopping his ridiculous spending binge. The Fed can slow it down and eventually bring it under control by continuing to raise interest rates. Raising interest rates what E. Warren is griping about. She and other Dems don't care about the people most crushed by Biden's inflation. Apparently they just want good numbers so they can pat themselves on their woke backs.

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10 minutes ago, Mikey said:

Biden could by stopping his ridiculous spending binge. The Fed can slow it down and eventually bring it under control by continuing to raise interest rates. Raising interest rates what E. Warren is griping about. She and other Dems don't care about the people most crushed by Biden's inflation. Apparently they just want good numbers so they can pat themselves on their woke backs.

Spending binge? Compared to what? You do realize the budget deficit is lower under Biden than Trump, don’t you?

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20 hours ago, TexasTiger said:

Spending binge? Compared to what? You do realize the budget deficit is lower under Biden than Trump, don’t you?

You haven't been paying attention, have you? :)

Biden could also try to undo the damage he's done to the American energy industry and remove several dozens of the ridiculous regulations he's imposed on businesses both large and small. Those actions would ease inflation and they are entirely within his control. Also put a halt to hiring the extra 87,000 new IRS agents that are being brought on board to harass middle and lower income Americans. As predicted and now admitted by Administration officials, retirees with a small side enterprise, mom and pop hardware stores and your friendly neighborhood beauty shop owner will be the targets of these new bureaucrats.

With Liberals, it's all about government control in every area of life. They should be termed Controlocrats instead of Liberals. There is nothing liberal about them.

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9 minutes ago, Mikey said:

You haven't been paying attention, have you? :)

Biden could also try to undo the damage he's done to the American energy industry and remove several dozens of the ridiculous regulations he's imposed on businesses both large and small. Those actions would ease inflation and they are entirely within his control. Also put a halt to hiring the extra 87,000 new IRS agents that are being brought on board to harass middle and lower income Americans. As predicted and now admitted by Administration officials, retirees with a small side enterprise, mom and pop hardware stores and your friendly neighborhood beauty shop owner will be the targets of these new bureaucrats.

With Liberals, it's all about government control in every area of life. They should be termed Controlocrats instead of Liberals. There is nothing liberal about them.

You didn't answer the question.  Biden has actually lowered the deficit from his predecessor.  How can that honestly be termed a "spending binge?"

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1 minute ago, TitanTiger said:

You didn't answer the question.  Biden has actually lowered the deficit from his predecessor.  How can that honestly be termed a "spending binge?"

What caused Trump to spend money was COVID, which is now over. Biden's Binge is well documented. Start with the misnomered "Inflation Reduction Act" and then take your pick from among the dozens of woke programs. Start with binging on so called green efforts and take your pick after that.

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59 minutes ago, TitanTiger said:

You didn't answer the question.  Biden has actually lowered the deficit from his predecessor.  How can that honestly be termed a "spending binge?"

It’s all fuzzy math and who you want to believe.  The bottom line is the debt has increased.

https://www.snopes.com/news/2023/02/09/joe-biden-increase-national-deficit-800-billion/

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1 hour ago, Mikey said:

What caused Trump to spend money was COVID, which is now over. Biden's Binge is well documented. Start with the misnomered "Inflation Reduction Act" and then take your pick from among the dozens of woke programs. Start with binging on so called green efforts and take your pick after that.

Covid certainly increased it, but his trajectory before that was no better than Obama’s:

1F0A93F5-F223-4537-A7ED-C6A6E2F060EF.jpeg

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8 minutes ago, I_M4_AU said:

It’s all fuzzy math and who you want to believe.  The bottom line is the debt has increased.

https://www.snopes.com/news/2023/02/09/joe-biden-increase-national-deficit-800-billion/

The debt and the deficit are not the same thing.  One could technically run a slight surplus (no deficit at all) but the debt would still increase due to interest for example.  The debt increased dramatically faster under Trump.  It still doesn't make sense to accuse Biden of a spending spree compared to previous presidents.

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3 minutes ago, TitanTiger said:

The debt and the deficit are not the same thing.  One could technically run a slight surplus (no deficit at all) but the debt would still increase due to interest for example.  The debt increased dramatically faster under Trump.  It still doesn't make sense to accuse Biden of a spending spree compared to previous presidents.

The only President that slowed the increase in the debt in recent history is Clinton.

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1 minute ago, TitanTiger said:

The debt and the deficit are not the same thing.  One could technically run a slight surplus (no deficit at all) but the debt would still increase due to interest for example.  The debt increased dramatically faster under Trump.  It still doesn't make sense to accuse Biden of a spending spree compared to previous presidents.

As the article points out; the reason it increased under Trump was due to COVID.  Now that COVID is over the deficit should decrease, but Biden still is over spending.  We will be paying for COVID for years to come, Biden still wants to spend more than what we can afford on the next existential threat.  Its always something.

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14 minutes ago, I_M4_AU said:

As the article points out; the reason it increased under Trump was due to COVID.  Now that COVID is over the deficit should decrease, but Biden still is over spending.  We will be paying for COVID for years to come, Biden still wants to spend more than what we can afford on the next existential threat.  Its always something.

And as Texas pointed out, Trump wasn't doing any better on the deficit than Obama was even before COVID spending hit.  And while spending has decresed significantly from Trump's COVID spending, we are still dealing with the aftershocks and recovery part of things.  One can criticize certain aspects of Biden's spending programs but to characterize them as a "spending spree" is inaccurate all things considered.

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