Warren Roasted After Dire Economic Claims Clash With Trump-Era Market Boom
CNBC hosts Rick Santelli and Joe Kernen delivered a sharp rebuke to Sen. Elizabeth Warren (D-Mass.) after the progressive lawmaker issued dire warnings about the U.S. economy—warnings that appear increasingly detached from economic reality as markets surge to record highs under President Donald Trump.
During a heated segment on CNBC’s Squawk Box, Kernen pointed to solid gross domestic product readings for both the second and third quarters, arguing that Democrats have become openly partisan even when interpreting basic economic data. According to Kernen, many on the left simply refuse to acknowledge improving conditions because of their opposition to President Trump.
He said that critics of the President are unwilling to concede that the economy is strengthening.
“Senator Elizabeth Warren will come on and say ‘Inflation is out of control, and the economy is getting killed by what’s happening by these tariffs,'” Kernen said.
Kernen countered that inflation has remained within the 2–3 percent range, while equity markets have repeatedly hit new all-time highs—facts that directly undermine Warren’s alarmist narrative.
Santelli, CNBC’s U.S. editor, added that Kernen’s breakdown highlighted “an important lesson,” quipping that Americans should probably avoid hiring members of Congress to manage their money.
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The broader economic data backs up the hosts’ skepticism. After slowing earlier, the U.S. economy rebounded in the second quarter and accelerated sharply through the third, growing “like a fire,” according to Santelli. The Commerce Department reported that U.S. GDP—the total value of goods and services produced nationwide—expanded at an annualized rate of 3 percent.
Santelli argued that lawmakers often cherry-pick metrics to advance political objectives rather than present an honest assessment of economic performance.
“The Democrats don’t want to see the current administration have some success, but there’s no doubt that this is some success,” Santelli said, pointing to steady inflation and climbing equities as clear indicators of economic health.
Despite repeated warnings from critics that President Trump’s aggressive tariff policies would trigger inflation, raise consumer prices, and destabilize markets, those predictions have largely failed to materialize.
Warren, however, has continued to argue that corporations may exploit the administration’s global trade strategy as a pretext to increase prices and overcharge consumers. She has insisted that the real damage from tariffs will only become clear over time.
“The impact of 12 months of Donald Trump will be felt for two generations, as more nations blink hard at what’s happening in the US and conclude that we are simply not a reliable trading partner,” Warren told the publication. “That hurts us now and it will hurt our children and our grandchildren.”
The exchange grew more contentious when Kernen criticized proposed price-gouging legislation as fundamentally “flawed.” Warren pushed back sharply.
“Where have you been for the last 30 years as three dozen states have price gouging laws and they use them effectively?” she replied.
“This is why you never lose an argument – because no one can ever say anything back to you, senator, and it’s frustrating,” Kernen fired back.
“They are not random one-offs,” Warren said. “It is part of the problem when you’ve got companies that are gouging consumers on prices, consumers need to know they’ve got somebody on their side.”
As both spoke over one another, Kernen directly challenged Warren’s examples, accusing her of selectively framing corporate profit figures.
“That’s sophistry,” Kernen countered. “Kraft, you say, was 440% profit increase.”
He explained that the comparison ignored a prior quarter that included a massive $1.3 billion accounting charge, which had artificially depressed profits before rebounding.
“The example you used, the prior quarter from the year before, they had a charge of $1.3 billion dollars, an accounting change which wiped out profits. Then they earned what they – let me finish now,” Kernen said, before Warren interrupted.
“You didn’t let me finish,” Warren responded. “Look at the data. We have economic study now after economic study.”
Visibly frustrated, Kernen summed up the pattern.
“This is the way it always goes. Senator, 40 million eggs because of avian flu.”
According to Kernen, Warren repeatedly refused to engage with data demonstrating productivity gains and economic growth during President Trump’s tenure, choosing instead to double down on rhetoric that clashes with market performance and government statistics alike.