Sen. Elizabeth Warren (D-Mass.) on Tuesday said the Trump administration is attempting to damage public perceptions of the Federal Reserve by blaming it for price increases in recent months.
“Donald Trump has a really serious economic problem. And the economic problem he faces is not the Fed. The economic problem he faces is that he promised — think back to a year ago today — he promised over and over and over that he would lower costs for American families on day one,” Warren said on CNN’s “The Source with Kaitlan Collins.”
Instead, the senator said people are experiencing a rise in the cost of groceries, utilities, housing and school clothes.
“And Donald Trump wants to find somebody to blame all of that on. He’s trying to make the Fed the bad guys here,” Warren told Collins.
The president on Monday said he plans to fire Fed board of governors member Lisa Cook following allegations of mortgage fraud based on Cook reporting two primary addresses. The allegations were reported by Bill Pulte, a Trump loyalist serving as director of the Federal Housing and Finance Agency who has made similar allegations against other Trump targets, such as Sen. Adam Schiff (D-Calif.).
Cook said the errors were made prior to her tenure as a board member and showcase no legal “cause” to remove her from the board.
Warren said she agrees.
“Look, the legal standard for cause here is failure to do her job. And so, it’s about inefficiency or malfeasance in office, something that is related to her job. There’s case law on this from the past. And clearly, that’s not what’s going on here,” the Massachusetts senator said.
“What’s going on here is that one of Donald Trump’s hit men has access to data, and he’s clearly trying to go through Donald Trump’s perceived enemies list and see if he can dig up dirt on someone and if it might be enough to help Donald Trump seize control over the Fed.”
In recent months, Pulte has also accused Schiff and New York Attorney General Letitia James (D) of mortgage fraud.
“Here’s someone who has taken access to this individual level data and, it would appear, is running it against Donald Trump’s enemies list to see if he can make a claim — I don’t even know if it’s true, but make a claim against anyone who has criticized Donald Trump or who stands in Donald Trump’s way for whatever it is Donald Trump wants to do,” Warren said of Pulte’s accusations.
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