Sen. Elizabeth Warren (D-MA) ratcheted up her criticism of Federal Reserve Chair Jerome Powell, contending he “took a flamethrower” to bank regulations.
In the wake of the Silicon Valley Bank collapse, Warren has urged Congress and regulators to strengthen oversight of the banking industry and recently claimed that Powell"directly contributed" to the failure, urging him to recuse himself from an internal review of the collapse.“Donald Trump ran for president saying he would lighten the regulations on these banks,” Warren said on CBS’s Face The Nation.
“Jerome Powell has said that all he wants to do is lighten regulations on the banks,” Warren added. “I opposed him as chairman of the Federal Reserve Bank precisely for that reason.” Since then, the Treasury Department, Fed, and Federal Deposit Insurance Corporation announced that depositors would be able to reclaim their money, effectively guaranteeing deposits over the $250,000 threshold backed by the FDIC.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elizabeth Warren: Jerome Powell has ‘failed’ as Federal Reserve chairSen. Warren on Federal Reserve Chair Jerome Powell: 'He has had two jobs. One is to deal with monetary policy. One is to deal with regulation. He has failed at both.'
Read more »
Elizabeth Warren calls for investigation into downfall of SVB, Signature BankSen. Elizabeth Warren is calling for an investigation of what led to the collapse of Silicon Valley Bank and Signature bank this month, demanding answers from the FDIC.
Read more »
Elizabeth Warren: Fed Chair Powell wants to ‘put millions of people out of work’ to fight inflationSen. Elizabeth Warren tore into Federal Reserve Chairman Jay Powell on Sunday, accusing the presidential appointee of wanting to put millions of people out of work to combat inflation by continuing to raise interest rates.
Read more »
Powell blocked statement on regulatory flaws amid SVB's collapse: reportFed Chair Jerome Powell reportedly blocked a statement on regulatory flaws that led to SVB's collapse
Read more »