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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSenator Warren worries that Fed will tip U.S. economy into recession
By Kanishka Singh
WASHINGTON (Reuters) -Democratic U.S. Senator Elizabeth Warren said on Sunday that she was very worried that the Federal Reserve was going to tip the nation's economy into recession and that interest rate hikes would put people out of work.
"Do you know what's worse than high prices and a strong economy? It's high prices and millions of people out of work. I am very worried that the Fed is going to tip this economy into recession," Warren told CNN on Sunday.
The U.S. central bank's chief, Jerome Powell, warned on Friday that Americans were headed for a painful period of slow economic growth and possibly rising joblessness as the Federal Reserve raises interest rates to fight high inflation.
Powell said in a speech on Friday the Fed will raise rates as high as needed and would keep them there "for some time" to bring down inflation that is running at more than three times the Fed's 2% goal.
https://finance.yahoo.com/news/senator-warren-worries-fed-tip-133538266.html
elleng
(130,933 posts)NoMoreRepugs
(9,431 posts)of wages to cool down inflation.
Meadowoak
(5,546 posts)When the President is a Democrat, and they always lower interest rates for a Republican. Just a coincidence I'm sure.