Elizabeth Warren

Families cannot take it anymore.

My pitch today in this speech is that Democrats, this is our moment to rebuild trust with the American people.

After all, the Democratic Party, we're the ones who brought America social security and the 40-hour work week and the minimum wage and unemployment insurance and Medicare and Medicaid and the Affordable Care Act and housing for first-time homebuyers and housing for veterans.

We got out there and fought for those things that help build a more financially secure middle class.

It is our time now to get back in that fight, full-throated, not to sand it down because some billionaire might say, whoa, that means I'll have to pay more taxes.

That's too bad.

Our job is to be in the fight to lower costs for American families, and I'm all in.

No, I do not.

I think we're all clear.

What's going on here is it is a pretext for Donald Trump to be able to take control of the Federal Reserve.

I don't have to remind you all and the people who listen to this program about the importance of Fed independence.

so that whatever it is the Fed is deciding on monetary policy, we should have confidence that that decision is based on their best assessment of the data about inflation, the data about unemployment, the data about GDP growth and investment, and not about politics.

But we know the temptation for every president, as you start to come into a tough election, if they could control interest rates, oh, it would be to roll those interest rates down to juice the economy, so there'd be a lot of cheap money flowing through the economy shortly before the election.

Now, that may work for the election, but it's terrible for the economy long term, and it undermines confidence

in the Fed that they are making good economic decisions.

So Donald Trump, look, from the first day basically that he got in office, he said he wanted to fire Jerome Powell.

He's tried to fire Lisa Cook.

He has openly said that he will not appoint anyone to be Fed Chair who is not willing to be a sock puppet, that is agree with Donald Trump no matter what Donald Trump says.

All of those are about Donald Trump exercising control over the Fed, destroying Fed independence.

And that's what this probe is.