WASHINGTON – U.S. Sen. Mark R. Warner (D-VA), a member of the Senate Finance and Banking committees, released the following statement on President Trump’s attempt to fire Fed Governor Lisa Cook:

“The Fed was designed to operate insulated from political pressure so that it can make tough decisions based on data and the long-term health of the economy, not the whims of any one president. This outrageous and unprecedented attempt to fire a member of the independent Federal Reserve on the flimsiest of unproven pretexts is clearly the latest scheme from a president determined to subvert the institutions that have kept our democracy strong and our economy the envy of the world.

“Under President Trump, Americans are already paying more for groceries and other essentials. President Trump’s attempt to fire a member of the Federal Reserve is just the latest example of his chaos-driven approach to the economy. From impulsive trade wars and erratic tariffs to deficit-exploding tax cuts and now this attack on Fed independence, Donald Trump has shown time and again that he’s more interested in political theater and absolving himself of blame than in helping the American people. The result is higher costs for families, uncertainty for businesses, and diminished confidence in our economic leadership around the world.”

###