Warren Questions Source of $100 Million and Raises Corruption Allegations Against Fed Chair Waller
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Elizabeth Warren, a U.S. Senator, questioned Federal Reserve Chair Kevin Waller about the source of the $100 million he received just before taking office, criticizing it as "encouraging corruption." During a Senate Banking Committee hearing on the 17th, Senator Warren asked, "Who gave you the $100 million?" However, Waller did not disclose the source of the payment. Warren pointed out, "The atmosphere you are creating seems to invite corruption." Additionally, she criticized Waller for not directly addressing the issue of Fed Vice Chair Michelle Bowman attending an unofficial Wall Street dinner during the official "blackout period." Warren warned that World Liberty Financial (WLFI), a cryptocurrency business owned by the Trump family, is seeking to raise about $1.4 billion by 2025 and is applying for a banking license, suggesting that political influence could affect the Fed. Waller has previously mentioned Bitcoin as an important asset, showing a favorable stance towards cryptocurrencies. The possibility of interest rate hikes is also increasing, with the CME FedWatch Tool indicating a 59% chance of a hike in October and a 73.4% chance of a subsequent hike in December. This dispute intertwines the Fed's independence, Trump's cryptocurrency business, and interest rate forecasts, suggesting that as political pressure increases, the debate will intensify.
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