Maxine Waters Defends Lisa Cook, Blasts Trump For Trying To 'Take Over The Federal Reserve'

On the House floor, Rep. Maxine Waters (D-CA) slammed President Trump's attacks on Fed Governor Lisa Cook.

Transcript

00:00Thank you very much. Members, I rise today in support of Lisa Cook. She is a member of the

00:07Board of Governors of the Federal Reserve. I rise to support her because there is an attempt

00:13to fire her if she does not retire or resign. This attempt that has been made is because the

00:20President of the United States wants to take over the Federal Reserve. This is our central bank

00:26with responsibility for determining the interest rates, short-term interest rates. We cannot

00:33allow the President of the United States to own, dictate, and tell the Federal Reserve what

00:41they can and cannot do. If he gets rid of Lisa Cook, he will have control of the central bank.

00:47What he will do is insist on interest rates going down, but what people do not understand,

00:53this will cause inflation to rise. This President has interfered with legal law firms and sued

01:00them. He has interfered with our educational institutions, threatening their funding if

01:08they don't do what they're told. This now is a wannabe what? Taking over the central bank

01:16in order to determine the entire economy. I ask you to join with me and support Lisa Cook

01:23and Powell at the central bank.

01:28For what purposes, a gentleman from North Carolina.