Sen. Elizabeth Warren raised concerns over President Trump's threats to fire Federal Reserve Chair Jerome Powell, emphasizing the Fed's independence and the legal limitations on presidential power to dismiss its chair. Despite Trump's previous actions against other independent agencies, legal experts maintain that he cannot fire Powell. Warren warned that such an action would destabilize U.S. markets and likened it to an autocratic regime, stressing the critical importance of an independent Fed for economic integrity.
But understand this. If Chairman Powell can be fired by the president of the United States, it will crash the markets in the United States.
This is a president who has shown himself willing to violate laws, she said. So, that obviously puts things a little more in play than we ever would have guessed.
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