‘He’s Selling Us Out!’ Peter Navarro Slams Trump’s Handpicked Fed Chair as a ‘Make Recessions Great Again’ Guy

Trump trade advisor Peter Navarro joined his fellow MAGA media personality Steve Bannon on Thursday to discuss the Fed raising interest rates the day before, for the first time in three years.

Navarro, in his typical fashion, pulled no punches in unleashing on Federal Reserve Chairman Kevin Warsh, who President Donald Trump recently appointed to the post.

“Your argument – but I just want to go back to you and President Trump: how could this come at– that you’re making a pretty fundamental case, this guy has a fundamental misunderstanding of all of this. How could that happen?” Bannon said.

“Yes,” Navarro replied as Bannon continued:

When we spent two years – we spent three years – who’s going to be the next Fed chairman, and Powell’s terrible. And you and I – I just wanted, for full disclosure, Peter and I – where I think two of the strongest voices about Powell not being the Fed chair the last time – but how can we not fully vet this – Kevin Warsh.

Understand, Kevin, Kevin Warsh is an institutionalist, and I’m not making a judgment call back in the… All I’m saying is Kevin Warsh is an institutionalist, he’s a deficit hawk, he’s a hard money guy. And I realize he went on Fox and CNBC and danced the mambo is what it is. Why is it a surprise to you and President – that he made this decision yesterday?

“Why do you think I’m surprised? I was not a Warsh guy, I’m not a Warsh guy,” replied Navarro, adding:

I see him not as MAGA – I see, let’s call him MARA or MASA, like “make recessions great again.” You know, it’s like, or “make stagflation great again.” I just– look, he sold himself, and now he’s selling us out. I think it’s pretty much as simple as that. And I don’t know – here’s what I don’t know: I don’t know whether it’s a gap in his training, or whether he’s just one of them. And this is political – I fear it’s political.

I mean, if he understood this issue, he would have gone against the grain of what is a very politicized, anti-Trump Fed, and tried to lead on the issue, and maybe lose, but at least try to lead. He did not do that.

“What– what was it, was it, was it not unanimous? The vote, not unanimous?” Bannon pressed.

“It was unanimous. And people will point out that at least some in the minority were appointed by Trump, but two of them now are Warsh and Powell – they kind of revealed themselves. Powell, we know, is virulently anti-Trump. And you’ve got the guy from Minnesota, he’s against this as well. So it’s just a hostile, politicized group. Steve, the bottom line is: they made a monumental mistake, and it’s going to come back to haunt us, and they’re going to do it again in October, because they don’t read history like you do,” Navarro concluded.

Watch the clip above via WarRoom.

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