If you look at conservative or libertarian websites, you’ll see a ton of articles about how dangerous the Federal Reserve can be for America. Those with that stance will find that they have a unlikely ally in Senator Warren. We wanted to publish this article to show that there could be more agreement than most think between parties.
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.
“While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. These are the unfortunate costs of reducing inflation. But a failure to restore price stability would mean far greater pain,” Powell had said in his speech.
“What he calls ‘some pain’ means putting people out of work, shutting down small business because the cost of money goes up because the interest rates go up,” said Warren, whose views on the economy are often influential among progressive Democrats.
Warren said inflation was high partly due to supply chain problems, the COVID-19 pandemic and the war between Russia and Ukraine.
“There is nothing in raising the interest rates, nothing in Jerome Powell’s tool bag, that deals directly with those and he has admitted as much in congressional hearings,” Warren said.
This moron representing the great state of Massachusetts has no idea, not a clue what the Federal Reserve is or even what it even does yet she has to get into the fray of spewing lies and BS so she seems relevant. When was the last time this waste of an elected official write a useful bill which helped her constituents. Look it up, I dare you.
F* this FAKE Non Native American Indian. She should say she will do anything and then Blame it on the Republicans because it didn’t Work. And she doesn’t know what the FEDERAL RESERVE is , What it Does and How it Works. In her mind she thinks it’s something that U EAT.. She must be Related 2 Dementia Joe (China) Biden or Ho Camel Toes Harris.