Senator Elizabeth Warren rails against the Fed

Powell headache

The Fed is such an easy target for US politicians because it can't really defend itself and to the general public its a mysterious place filled with mysterious and very rich people who do things they don't understand.

So when there's something that happens that they do understand -- like trading on non-public information -- the reaction is damning.

Warren said that she initially opposed Jerome Powell's renomination as Fed chair because of bank regulation, but that recent ethics issues show that "Chair Powell has also failed as a leader."

"We need changes at the Fed," she said in a floor speech.

Wait until she finds out who the Treasury Secretary is.

Here's how it's trading at PredictIt:

PredictIt Fed