Senator Warren worries that Fed will tip U.S. economy into recession

[Yo_Mama_Been_Loggin]

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]

1. and of course she's right.

[NoMoreRepugs]

2. Powell seems hell bent on raising unemployment to slow the growth

of wages to “cool” down inflation.

[Meadowoak]

3. Funny how the feds always want to cool down the economy

When the President is a Democrat, and they always lower interest rates for a Republican. Just a coincidence I'm sure.