Senator Elizabeth Warren (D-MA) made her stance clear before the Senate Banking Committee on June 25, 2025, stating her opposition to President Trump's nominee for Federal Reserve chairman, Kevin Warsh. The committee's vote, which fell along party lines at 13-11, paves the way for a full Senate confirmation vote.
Warren's decision stems from her belief that Trump's intentions are to manipulate the Federal Reserve amid a struggling economy. "The president promised lower costs from day one, yet prices for groceries, healthcare, housing, and gas have surged under his administration," she remarked.
In an interview with Morning Edition, Warren expressed her concerns: "His big plan here is to take over the Fed and then create enough chaos around the Fed and try to juice the economy to carry him past the elections in November. I'm worried about what this is going to mean for families long term when Donald Trump has the Fed and does so much more damage to the economy long term."
Warsh has indicated a willingness to cut interest rates without triggering inflation, aligning with Trump's advocacy for lower rates. However, he assured senators of his independence, stating he would not follow direct orders from the president.
If confirmed, Warsh would join two other Trump-appointed members on the Fed's seven-member Board of Governors. Meanwhile, Trump is also pursuing the removal of Fed governor Lisa Cook, taking the matter to the Supreme Court.
"If he's able to push her out the door, that gives him four, and that gives him complete control," Warren warned during her conversation with NPR's Steve Inskeep.
Warren also touched on the implications of the Justice Department's decision to drop its investigation into Powell during her interview.
For more insights, listen to the full interview by clicking on the blue play button above.
