Danielle, This past week, I sat across from Kevin Warsh — Donald Trump's pick to run the Federal Reserve — and I asked him a simple question: Did Donald Trump lose the 2020 election? He couldn’t — or rather he wouldn't — answer that. This is the man Trump wants running our independent central bank. Donald Trump has made it clear that he does not want an independent Fed. In fact, he has said, and I quote, “anybody that disagrees with me will never be Fed Chairman.” Why try to end the independence of the Fed? Because Trump’s economic failures are causing him political problems, and he wants the Fed to use monetary policies to artificially juice the economy in the short term — and this is his last chance to do that before the November elections. Trump himself said interest rates will drop "when Kevin gets in." Not when the economy needs it. Not when the data supports it. When his guy is in the chair. Those interest rates determine what you pay on your mortgage, your car loan, and your credit card. But Trump just wants his guy to use his power to manipulate the economy for political reasons. Trump having a sock puppet in charge of the Fed would also give him access to the Fed’s powerful authorities that could be used to enrich himself, his family, and his Wall Street buddies by granting special accounts to his family’s crypto company or bailouts to his friends on Wall Street if they get into trouble. In other words, a Fed under Trump’s control creates more opportunities for Trump’s corruption. So, no matter how “independent” this guy claims he might be as chair of the Fed, if he can’t even assert reality and directly say that Trump lost the 2020 election, can we believe him? No. Just as a cherry on top: He’s got more than $100 million in investments he has refused to disclose. I asked him if any of those investments were affiliated with the Trump family, Chinese-controlled companies, financing vehicles set up by Jeffrey Epstein, or someone whose whole business is betting on what the Fed will do. He also wouldn't answer that question. Look, Kevin Warsh sucked up to Donald Trump just enough to snag his dream job. But the Senate has the power to deny him this position — and we should not be aiding and abetting Donald Trump's illegal takeover of the Fed by installing his chosen sock puppet. We can keep up the pressure on this, Danielle. Add your name if you agree that the Senate should not confirm Kevin Warsh to run the Federal Reserve.
Thanks for being part of this, Elizabeth  |
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