On Tuesday’s broadcast of CNN’s “OutFront,” Sen. Amy Klobuchar (D-MN) reacted to criticism from the White House over the cost of renovations to the Federal Reserve’s building by saying that you can’t fire Federal Reserve Chairman Jerome Powell over that and President Donald Trump has mismanaged the economy himself.
Host Erin Burnett asked, “Russell Vought of the OMB, a crucial player in the White House, said Powell’s mismanaging the Fed. He cited the renovation of the Fed building. And that’s really crucial, Senator, because if Trump wants to fire Powell, he needs cause. And you don’t get cause by saying, oh, I don’t like what he’s doing with interest rates, cause is mismanaging a renovation and losing taxpayer money, right? So, this talk of a renovation isn’t just idle talk. And a reporter asked Trump if the renovation, which is $2.5 billion, if Powell’s handling of it is a firable offense, and Trump responded — Senator, I don’t know if you heard this, but he just responded, — I think it sort of is. What do you think?”
Klobuchar answered, “That does not make the standard for how he can fire the head of the Federal Reserve. And how about his own mismanaging of the economy right now, where he is creating chaos by changing these tariffs 100 times, where he has created so much debt, added $4 trillion to the debt, $3 trillion in real money, another trillion in interest rates so high that it’s triggered automatic Medicare cuts of $500 billion? And what the Chairman of the Federal Reserve is trying to do is to make sure that we don’t go spiraling because of this debt and the inflationary pressure that his tariffs are causing.”
Follow Ian Hanchett on Twitter @IanHanchett
Read the full article here