Sen. Elizabeth Warren (D-Mass.) has criticized Federal Reserve Chair Jerome Powell’s handling of the economy, accusing him of trying to put up to 2 million Americans out of work as part of the central bank’s efforts to bring down inflation.
Warren made the comments in an interview on NBC’s “Meet the Press” on March 19 in which she called the Fed’s interest rate hikes “extraordinary” and “extreme.”
The Fed is widely expected to raise interest rates by a quarter percentage point again this week, despite the collapse of two major banks, Silicon Valley Bank (SVB) and Signature Bank.
“I do not think he should raise rates,” the senator said of Powell, adding that her reasoning for this is twofold….