Federal Reserve chair Jerome Powell takes heat after admitting economy is rigged
FILE – In this Dec. 1, 2020, file photo, Federal Reserve Chair Jerome Powell listens during a Senate Banking Committee hearing on Capitol Hill in Washington. During an interview broadcast Sunday, April 11, 2021, on CBS’ “60 Minutes,” Powell said the U.S. economy is poised for an extended period of strong growth and hiring, though the coronavirus still poses some risk. (Al Drago/The New York Times via AP, Pool, File)
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UPDATED 9:13 AM PT – Wednesday, April 14, 2021
Former Trump trade advisor Peter Navarro recently blasted Jerome Powell as “the worst chair of the Federal Reserve in modern history.”
On Tuesday, Navarro reacted to Powell’s interview on 60 Minutes in which he admitted the system is rigged against every day Americans. He said Powell’s interview is the inside joke of all of corporate media as he blames the country’s money problems on blue collar workers.
In a conversation with Scott Pelley about the economic outlook, Powell also commented on the fallout from the Archegos Capital collapse, last year’s bailout of money market funds, and the potential development of a U.S. digital dollar. https://t.co/WO4NFkdqED
— 60 Minutes (@60Minutes) April 13, 2021
Navarro asserted that Powell is doing nothing to help Americans compete in the global economy and is, instead, helping push American jobs overseas.
“The people who control this government think that whenever your wages go up, they’re going to ship our jobs overseas so people can have cheap crap at Walmart,” stated the former trade advisor. “Even though they don’t have a paycheck, they’ve got cheap crap at Walmart.”
Navarro went on to emphasize President Trump’s efforts to support blue collar Americans while suggesting he’s the only modern president to actually care.
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