KEY POINTS
  • Sen. Elizabeth Warren urged Fed Chair Jerome Powell to recuse himself from the central bank's review of Silicon Valley Bank after its collapse.
  • Warren said Powell allowed "big banks like Silicon Valley Bank to boost their profits by loading up on risk."
  • The Fed announced an overview into the supervision and regulation of SVB on Monday after the bank's takeover by federal regulators.
US Senator Elizabeth Warren addresses the public during a rally to protest the US Supreme Courts overturning of Roe Vs. Wade at the Massachusetts State House in Boston, Massachusetts on June 24, 2022.

WASHINGTON — Sen. Elizabeth Warren on Tuesday pushed Fed Chair Jerome Powell to remove himself from the central bank's review of the Silicon Valley Bank collapse, accusing him of allowing dangerous practices that helped to cause its failure.

The Massachusetts Democrat contended Powell's "actions to allow big banks like Silicon Valley Bank to boost their profits by loading up on risk directly contributed to these bank failures."