A conservative commentator got an immediate fact check by a CNN host on the impact of president Donald Trump's tariffs on the economy.
The president lashed out at Federal Reserve chairman Jay Powell on Thursday morning, saying his "termination cannot come fast enough," but a former White House spokesman for George W. Bush downplayed the gloomy economic forecast that drew Trump's ire.
"Well, there are people who lose favor with Donald Trump, even though he appoints them," former Bush staffer Pete Seat told "CNN News Central." "But the secretary of treasury just a few days ago started floating the conversation about who might replace Powell when his term expires in about a year or so. I would just say about this whole thing, the Fed handles monetary policy. They don't handle trade and foreign policy. This is a much larger conversation than just interest rates and what the Fed manages."
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"The White House has a lot to juggle and a lot to talk about negotiations that are taking place with foreign leaders, including later today with the prime minister of Italy, and let's talk about job announcements that are taking place," Seat added. "These policies are bearing fruit right now, despite what the Fed chairman says."
Host John Berman's eyebrows raised in surprise, and reminded Seat what Powell had told an economic forum about Trump's tariffs the day before.
"Well, the Fed chair said it will increase prices that that consumers will bear bear the cost of that," Berman said, "and also said it will slow growth."
Berman then turned to panelist Matt Bennett, co-founder of the center-left think tank Third Way, and asked whether Trump was wise to pick a fight with the Fed chair.
"No, I think it's insane," Bennett said. "Look, Donald Trump took an economy that was doing pretty well. There were problems – inflation was too high, but I mean, the economists said we were the envy of the world six months ago, and he has already driven it into a ditch. The markets are plummeting, prices are about to rise in incredible ways because of these tariffs and people's 401(k)s are really hurting now. The same guy that has done that to our economy on purpose for no reason wants to take over monetary policy. As we just heard, I think the markets will go bananas if that happens."
"I would rather pick somebody out of a crowd at a Washington Wizards game to run monetary policy than hand it over to Donald Trump at this moment," Bennett added.
Berman was quick with another fact check on his NBA reference.
"There are no more Washington Wizards games," Berman said. "They've been eliminated long ago."
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