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Senate Democratic Leader Chuck Schumer is fiercely criticizing the Justice Department’s investigation into Federal Reserve Chair Jerome Powell, calling the allegations that Powell misled Congress over construction projects “bogus.” Schumer accuses President Donald Trump of attempting to undermine and “cannibalize” the Federal Reserve’s independence, warning that political interference in the central bank could have serious consequences for the U.S. economy. The controversy is fueling a heated debate in Washington over the rule of law, institutional independence, and the future of the Fed.

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00:00sent the quorum be dispensed with that objection so mr president last night the new york times
00:06reported that a criminal investigation has been opened into jerome powell the chairman of the
00:12federal reserve board anyone with two eyes and half a brain knows exactly what this criminal
00:19probe represents a brazen attempt by donald trump to cannibalize the feds independence
00:26the allegations behind this probe are clearly bogus this has nothing to do with building
00:32renovations of all things it has everything to do with donald trump weaponizing the doj
00:38into his attack dog and bullying america's central bank into submission on something unrelated to
00:47what they do this is another ominous troubling step toward the magification of america's
00:55monetary policy which is the bedrock of the global economy and essential for stability in the markets
01:01so the american people should beware if you're worried about making sure mortgage rates come
01:08down and making it easier to buy a home donald trump's attack on the fed should trouble you
01:14deeply if you're worried about what the economy is going to look like in the next six months 12 months
01:20and beyond donald trump's attack on the fed should alarm you if you're a senate republican in this
01:27chamber who has at any point spoken out about the feds independence about the need to bring inflation
01:32down about the importance of law and order now is the time to find your voice and to take a stand
01:40the bogus criminal probe conducted by the doj screams for congressional oversight we need to bring doj
01:53officials to testify before the senate explain this outrageous criminal probe and the senate must reject
02:02any future trump nominee to the fed so long as this dark cloud continues to hang over the central bank
02:09because if donald trump can use the threat of criminal investigation to influence monetary policy then
02:15we'll have no independent fed to speak of and again interest rates will go up mortgage rates will go up
02:22car loan rates will go up credit card rates will go up and the american consumer will pay more
02:28the american consumers already worried troubled and devastated by the lack of affordability
02:37and what trump is doing
02:39will make things even more unaffordable you'd say what the heck does one have to do with the other
02:46but when the markets feel there's no steadiness no no stability in the fed
02:53they charge more they get worried they clamp down
02:58and look donald trump is clearly angry that his own presidency has been a disaster for our economy
03:07so he's looking for a scapegoat and he thinks jerome powell can be one
03:11he's made a big mistake no one's going to fall for that bull
03:16but jay powell and the fed everyone knows jay powell and the fed aren't the reason
03:21donald trump's poll numbers and our economy are in the gar into in the garbage
03:27if he wants someone to blame donald trump
03:29should simply look in the mirror
03:31not at jerome powell
03:33on venezuela
03:36last night donald trump
03:38posted on truth social a ridiculous screenshot of a fake wikipedia page
03:42that called him the acting president of venezuela
03:46donald trump calling himself the acting president of venezuela is stupid
03:51but it's a very useful little illustration of where his head is at right now
03:55he's totally focused on military adventures
03:58and completely ignoring the affordability crisis here at home
04:02to those republicans
04:04who hemmed and hawed last week saying the u.s involvement in venezuela was a one and done
04:10those views have now aged like spoiled milk
04:14last week donald trump was asked if we're staying in venezuela for a month six months a year or longer
04:20he answered i would say much longer
04:22and he says this with a smile on his face
04:25what does he think the american people are thinking
04:29that we want another endless war this time in venezuela that we want to stay for years
04:34and waste treasure and possibly lives
04:39on this adventure in venezuela the american people don't want that
04:44and then he says we're going to give the money to venezuela
04:47you think the american people want that
04:49a foreign adventure so we can give money to venezuela
04:52just yesterday
04:54energy secretary wright said the u.s will be in venezuela for maybe a year
04:59maybe two years maybe more america the american people didn't vote for donald trump
05:06to be acting president of venezuela for a year two years three years even for a day
05:12they voted for him to put america first
05:15and bring down the cost of living
05:18the more people learn about what's going on in venezuela the more people hear that the u.s involvement
05:24could last years the more they'll demand that congress act
05:28now the good news is that this week the senate has a chance to halt trump's military follies
05:35to halt his focus on foreign adventurism rather than bringing down their prices
05:41last week a strong bipartisan group of senators move forward with the war powers resolution
05:46i've championed with senators kane and schiff and paul
05:49the senate will vote this week to pass this resolution and affirm that congress is constitutional
05:56authority on matters of war and peace
05:58i say to my republican colleagues who don't yet support this resolution
06:03join us to prevent another forever war
06:06the pressure will be on senate republicans this week to make a choice
06:11stand with the majority of americans who don't want us in venezuela
06:15or enable donald trump and risk entangling us entangling us in another forever war
06:23the american people will be watching what we do this week americans don't want another round
06:28of endless wars they don't support propping up foreign nations and regimes
06:32the vote this week will tell all and the american people will be watching
06:38and finally on tariffs as soon as this week the u.s supreme court may rule on whether or not
06:44donald trump's chaotic tariff tariff policy is constitutional
06:48i've long been very clear that the supreme court should strike donald trump's tariffs down
06:55the president's tariffs are an unlawful usurping of congress's authority over trade
07:01and i've seen firsthand throughout new york
07:04the president's tariffs are an unlawful usurping of congress's authority over trade
07:12and i've seen firsthand in new york have they braved prices for families and shut down so many small
07:18businesses congress may may not have a say on whether or how the supreme court will rule
07:24but we absolutely have a say on future legislation on the president's tariff of authority the senate has
07:32already voted four times on a bipartisan basis to reject trump's illegal trade war if the supreme
07:39court strikes down all or some of donald trump's tariffs when we know he'll come to congress
07:44and demand another blank check republicans must be ready to buck up and tell him no senate democrats will
07:52not support any legislation that hands the president a free pass to slap tariffs on whoever he likes
07:58the consequences for our economy be damned in his eyes no blank checks for an endless trade war
08:05no blank checks for donald trump to issue tariffs whenever he likes against whom ever he likes regardless
08:12of the consequences particularly the american people as it raises and raises and raises their cost of
08:18living yield the floor
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08:25download the one india app now
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