Dem Sen Elizabeth Warren is roasted on CNBC over apocalyptic economic warnings in face of surging markets
Kernen presented statistics demonstrating a strong gross domestic product reading for the second quarter and accused Democrats of partisanship on economic statistics.
He argued that people on the left and those who dislike President Donald Trump refuse to acknowledge positive economic trends.
'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.
He added that inflation has been below 3 percent and the stock market was hitting new highs, refuting Warren's stance that the economy is in turmoil.
Santelli said that there was an 'important lesson' in Kernen's argument, joking that you shouldn't pick a Congress member to be your money manager.
The US economy returned to growth in the second quarter. US GDP, the value of all goods and services produced across the economy, rose at a 3 percent annual rate, according to the Commerce Department. It came after a first quarter where GDP shrank at 0.5 percent. The wild swings have been attributed by analysts to Trump's tariffs.
Santelli, the US editor for CNBC, argued that Congress members often have ulterior motives when pointing to certain measurements over others to illustrate economic growth.
'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.
He argued that inflation has stayed steady over the past year and cited recent rising equities.
Fears have loomed that Trump's aggressive tariff policy will raise prices, negatively impact inflation, and shock the market.
Warren has been a staunch critic of Trump's economic stances, arguing that tariffs will give companies free rein to increase prices and take advantage of consumers.
She introduced a bill titled the Price Gouging Prevention Act of 2025 alongside Democratic Senator Tammy Baldwin and representatives Jan Schakowsky and Chris Deluzio to prevent companies from increasing prices.
The bill would make price gouging illegal and give the Federal Trade Commission, along with state attorneys general the power to litigate potential abuses of power.
Warren argued that large-scale companies could use Trump's global trade war as an excuse to increase prices and gouge the consumer.
In an interview with Fortune, the senator doubled down on her prediction, arguing that her biggest concern with Trump's tariffs was the long-term effects.
'The impact of six 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,' she told the publication.
'That hurts us now and it will hurt our children and our grandchildren.'
While the White House argued that tariffs are intended to create new export opportunities and level the playing field, Warren said Trump's economy is setting the market up for a crash.
She introduced a similar price-gouging bill last year and sparred with Kernen in a tense on-air interview at the time.
Kernen dismissed price gouging legislation as 'flawed' to which Warren replied, 'Where have you been for the last 30 years as three dozen states have price gouging laws and they use them effectively?'
'This is why you never lose an argument - because no one can ever say anything back to you, senator, and it's frustrating,' he replied.
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