US Senator Warns Trump: 'Market Will Collapse if Powell is Fired'

JOON HYOUNG LEE

Summary

US Senator Elizabeth Warren warned that the US market could collapse if Fed Chair Jerome Powell is dismissed.
Senator Warren emphasized the independence of global economic infrastructure from politics, stating that economic indicators should be protected from political influence.
President Donald Trump reportedly requested a rate cut and the dismissal of Chair Powell via his social networking service (SNS).

*Senator Elizabeth Warren speaking in an interview with US CNBC. Photo=CNBC Capture*

US Senator Elizabeth Warren has openly criticized US President Donald Trump for insisting on the dismissal of Jerome Powell, the Chair of the US Federal Reserve (Fed).

In an interview with US CNBC on the 17th (local time), Senator Warren stated, "If President Trump fires Chair Powell, the US market will crash." Senator Warren emphasized, "The infrastructure supporting the global economy is based on the belief that important elements operate independently of politics," adding, "If economic indicators move at the president's whim, the US is no different from a third-rate dictatorship."

On the same day, President Trump stated on his social networking service (SNS), Truth Social, "(The Fed) should lower rates immediately," and "Powell's dismissal should happen as soon as possible."