Warren takes aim at Powell and big banks in wake of failures.

Senator Elizabeth Warren criticized Federal Reserve Chairman Jerome Powell for aggressive interest rate hikes and the failure of multiple US banks. She believes the Fed should pause and not increase rates any further. The collapse of Silicon Valley Bank has been attributed in part to the bank being caught off guard by steep interest rate hikes, and the failure of other banks in recent weeks sparked concern that the contagion could spread. Warren has previously suggested Powell be replaced as chair because the Fed's aggressive rate hikes would cause millions of Americans to lose their jobs.