Uncertainty looms as Fed faces pressure to halt rate hikes.
TL;DR Summary
A group of 10 Democratic lawmakers, led by Sen. Elizabeth Warren, has written a letter to Federal Reserve Chair Jerome Powell urging the central bank to halt rate hikes to avoid damaging the economy. The letter was sent ahead of the Fed's anticipated rate hike announcement on Wednesday, which would be the 10th increase since last year. The lawmakers called on the Fed to suspend rate hikes to "respect" its dual mandate and "avoid engineering a recession that destroys jobs and crushes small businesses."
- Lawmakers led by Democrats urge the Fed to halt rate hikes ahead of Wednesday's announcement CNBC
- Fed Will Decide Next Rate Move After Bank Jitters The New York Times
- Fed is set to raise rates yet again. After that, then what? Yahoo News
- The 'great last hike' event? FXStreet
- Markets Expect One Last Fed Rate Hike. Beware—This Just Happened in Australia. Barron's
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