Sen. Elizabeth Warren slams Fed Chairman Jerome Powell for suggesting interest rates should go up to combat inflation in the US. Warren: “I’m very worried that the Fed is going to tip this economy into recession.” Warren has previously urged Powell to proceed with rate hikes cautiously to avoid setting off a recession that would cost millions of jobs. “There is nothing in raising the interest rates, nothing in Jerome Powell’s tool bag, that deals directly with inflation,” she said. Warren’s comments come just two days after Powell hinted at a possible recession during a keynote speech at the Federal Reserve’s annual Jackson Hole Economic Symposium. ‘I hope you consider that you drive this economy off a cliff” . . .
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