Fox Business show host Maria Bartiromo on Monday talked about what a potential Joe Biden administration could look like in January, saying, “the most important voice economically speaking will be Elizabeth Warren.”
Senator Elizabeth Warren (D-MA) is probably the most economically leftwing of any senator in the United States Senate. In a Joe Biden presidency she would virtually be in charge of the economy.
Bartiromo cited information from Wall Street, a source in investment banking company Cowan Inc., which said that Warren will have an “outsized policy role if Joe Biden can defeat Donald Trump in November.”
“Whether Elizabeth Warren is the Treasury Secretary under a Biden presidency or whether she stays in the Senate, her voice will be critical in terms of economic policy,” Bartiromo told Fox News on Monday.
“She’s [Warren] proposing a wealth tax; she’s proposing higher marginal rate taxes, she’s proposing a breakup of a number of companies within banking and within telecomm. So, I think once the market starts understanding the impact, we will probably see a sell-off, if, in fact, it looks more likely that Biden will win.”
“We’ll have to wait and see more information in terms of what the public believes and what the Wall Street investor class believes will be a Biden administration,” Bartiromo also noted.
She said there has also been “some talk” at high Democrat levels about appointing Rep. Alexandria Ocasio-Cortez (D-NY) to the job of administrator of the Environmental Protection Agency (EPA). Ocasio-Cortez co-sponsored the Green New Deal, a socialist concept designed to intentionally destroy the American free market. That would be the outcome of her appointment, full scale executive orders and EPA mandates implementing a socialist environmental policy.
“The market will likely react negatively if they expect some of the real extremists will be in leadership positions in a Biden administration,” Bartiromo said about AOC on Monday.
On larger economic issues Bartiromo noted, “we’re seeing a pretty good bounce in the market,” which she said likely has to do “with the end of the quarter. By all accounts, most people do believe that the worst has been seen in terms of the economic impact of the pandemic and that we will see 20 percent growth in the third quarter and possibly double-digit growth in the fourth quarter.”
If so that would be unprecedented and certainly help the president’s reelection prospects.
In related news, during an exclusive interview with Bartiromo on “Sunday Morning Futures,” White House trade chief Peter Navarro agreed but warned a full economic recovery could take time.
“We are going to have a strong rebound from the depths of the China virus depression, but it’s also true that we are going to face many years of working their way through these structural adjustments that are going to happen,” he said. “So this is why, for me, it’s so essential to have a man in the White House here who knows how to rebuild an economy.”
This piece was written by PoliZette Staff on July 1, 2020. It originally appeared in LifeZette and is used by permission.
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