Senate Democrats and Warren criticize Fed Chair Powell and big banks' regulations.

1 min read
Source: The Hill
Senate Democrats and Warren criticize Fed Chair Powell and big banks' regulations.
Photo: The Hill
TL;DR Summary

Senator Elizabeth Warren has intensified her criticism of Federal Reserve Chairman Jerome Powell, calling him a "dangerous man" to serve in his role following the Fed's ninth consecutive interest rate hike. Warren argues that Powell is risking sending the economy into a recession with the Fed's continuous interest rate increases and weakening regulations for large banks. She also claims that Powell is trying to drive the economy into a recession with the interest rate hikes and raise unemployment by more than 1 percentage point in a 12-month period.

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