During a Senate Banking Committee hearing Wednesday, Democratic Senator Elizabeth Warren urged Powell to proceed with rate hikes cautiously and avoid setting off a recession that costs millions of jobs.Warren asked Powell if Fed rate increases will lower gas prices, which have hit record highs this month."I would not think so," Powell said.Warren asked if grocery prices will go down because of the Fed's war on inflation.Read More"I wouldn't say so, no," Powell said.
Fed pledges to get high inflation downPowell acknowledged that the high cost of living is inflicting financial pain on Main Street and expressed confidence the US economy can ride out this difficult period."At the Fed, we understand the hardship high inflation is causing," Powell said in prepared remarks during the Senate Banking Committee hearing Wednesday."We are strongly committed to bringing inflation back down, and we are moving expeditiously to do so.
SenWarren Reduce demand by taxing the rich. Where is the Democrats' anti-inflation bill in Congress? Many of the 'pay-fors' from BBB need to be resurrected on their own as anti-inflation measures. Reduce demand by taxing the rich. Lower prices by regulating big-pharma. Please, try.
SenWarren All of the Zimbabwe monetary policies we have been involved in have a direct impact on our economy. The more we get involved sometimes the worse it turns out. For example, the government getting involved with student debt. The schools saw this as a green light to charge more
in support of senator warren. He's mad a substantial hike let it sit and give economy time to balance supply & demand which is the real issue. But I bet he will do successive rapid increase and will crash the economy like they always do
And that our potus lies about it everyday and the media let’s him! Cnn please cover all Biden’s policies on energy starting day one!
Democrats want low rate ,more money printing and more money giving away unnecessary,never think of the consequences.
See… she is just dumb. You can’t fix inflation without going through the recession/correction. It is exactly irresponsible politicians like her that promise everybody can have everything for free without working hard that led to this problem. We have to face the medicine or it
WajahatAli Governments are the biggest actors that created all this bubbles. Recession/depression is on the way anyway.
Democrats and their globalist pals destroyed the economy.
He's not biden
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