Warren: Fed's Aggressive Rate Hikes Won't Fix Inflation, Could Bring Recession

Warren: Fed's Aggressive Rate Hikes Won't Fix Inflation, Could Bring Recession


Senator Elizabeth Warren (D-MA) said Sunday on CNBC’s “Squawk Box” that the Federal Reserve should not raise interest rates so aggressively because it could cause a recession.

Co-host Carl Quintanilla said, “They say don’t fight the Fed, but you seemed interesting in fighting the notion that rate hikes can help offset inflation. Why?”

Warren said, “I’m very concerned. We know that some of the causes of inflation are supply chain problems, COVID outbreaks that continue around the world, Vladimir Putin invading the Ukraine, monopolies or near-monopolies engaging in price gouging, and increases in the interest rate won’t fix any of those. Jerome Powell has actually admitted that in testimony before Congress, and yet he continues to drive forward with what so far having historically

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