Senator Elizabeth Warren called on the Federal Reserve to halt interest-rate increases as the US inflation rate slid to a more than two-year low.
“Take yes for an answer, Chair Powell, and let’s stop with the rate increases,” Warren, a Massachusetts Democrat, said Wednesday in an interview on Bloomberg Television’s “Balance of Power.” “It’s done.”
She has famously called Jerome Powell, the Fed chairman, a “dangerous man to be running the Fed” and voted against his renomination to the post.
At 3% last month, consumer-price inflation is now just one-third of the level it reached a year ago, which was the highest in four decades. And the details for June were also better than expected, with key measures of underlying inflation coming in below forecasts.
--With assistance from Kailey Leinz and Katanga Johnson.
Author: Steven T. Dennis and Joe Mathieu
