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Elizabeth Warren Grills Fed Chair Jerome Powell On Combatting Inflation

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Sen. Elizabeth Warren grilled Fed Chairman Jerome Powell during a Senate Banking Committee hearing about the best ways the government should tackle inflation. Warren pushed the notion that the Fed could help control gas prices, which they obviously can’t be much about, as well as how they can help with food prices at grocery stores, which they also can’t help much with due to the high gas prices eating into the profits of the food and delivery companies. Ana Kasparian discusses on The Young Turks. Watch LIVE weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE:
https://www.marketwatch.com/story/sen-warren-warns-fed-chair-powell-not-to-drive-this-economy-off-a-cliff-2022-06-22?siteid=bullytweet

"The Federal Reserve should make sure that its rate increases do not push Americans into the unemployment lines, said Sen. Elizabeth Warren, the Democrat from Massachusetts, on Wednesday. "Inflation is like an illness, and medicine needs to be tailored to the specific problem.

Otherwise you could make things a lot worse," Warren told Fed Chairman Jerome Powell during a Senate Banking Committee hearing. "You could actually tip the economy into a recession," she said. The Fed has no control over global oil prices that are driving up gas prices, Warren said. "What's worse than high inflation and low unemployment?" Warren asked. "High inflation and recession with millions of people out of work," she answered. "I hope you consider that before you drive this economy off a cliff," she said."

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220622__TA02
Category
Europe
Tags
220622__TA02, News, Politics
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