Elizabeth Warren

For the many of us who are concerned that further rate hikes could do more harm than good, this is welcome news.

It's little wonder, then, that when American workers see the high prices at the grocery store and the pharmacy counter and the gas pump--along with rising borrowing cost for mortgages and car loans and credit cards--they remain skeptical…

Last week, the Fed decided to pause interest rates hikes after ten consecutive increases, and maintain the rate at its current level.

For the largest multinational corporations, inflation has been a perfect excuse to increase profits by raising prices far beyond the costs of their inputs.

Our banking system is broken. Twenty-three billion dollars in bailout money and there is no accountability for those at the top.

I do not believe that to have a strong economy was we must trade American jobs for corporate profits.

Do you take responsibility for your role in these bank failures?

That is talking about going forward.

So you take no responsibility on this.

I opposed your confirmation because I believed that your continued leadership would be dangerous to our financial system.

This is exactly why I opposed your nomination in 2017.

In fact, you now hold the record, in a single year the FDIC has been forced to rescue more giant failed banks on your watch than any Fed chair in American history.

So in 2010, Congress passed Dodd-Frank to make banking regulations tougher and to avoid future bank collapses.

When President Trump first nominated you as Federal Chair in 2017, you testified, actually in this very room, I think, that you intended to, quote, 'consider appropriate ways to ease regulatory burdens for the banks.'

For the many of us who are concerned that further rate hikes could do more harm than good, this is welcome news.

The challenge you face, Chair Powell, is to ensure that workers continue to see higher wages, while also continuing to rein in inflation.

Encouraging giant, too-big-to-fail banks to buy up small banks so there are fewer banks to monitor would be a dangerous mistake.

I am particularly concerned because regulators allowed America's biggest bank, JPMorgan Chase, to swallow up First Republic.

The single biggest threat to our banking system is concentration.

Encouraging giant, too-big-to-fail banks to buy up small banks so there are fewer banks to monitor would be a dangerous mistake.

I am particularly concerned because regulators allowed America's biggest bank, JPMorgan Chase, to swallow up First Republic.

I find your answer really troubling, that you cannot just say yes.

The single biggest threat to our banking system is concentration.

Now President Biden knows that this is a serious problem.

It's little wonder, then, that when American workers see the high prices at the grocery store and the pharmacy counter and the gas pump--along with rising borrowing cost for mortgages and car loans and credit cards--they remain skeptical…