It’s left vs. Federal Reserve on interest rates hikes
By Sylvan Lane
Progressive Democrats are ripping the Federal Reserve over deepening concerns the central bank could drive the U.S. into recession amid sky-high inflation not seen in four decades. Top liberal lawmakers are urging the Fed to stop hiking interest rates and slowing the U.S. economy, insisting that it’ll do nothing to curb inflation while plunging millions into joblessness…. “The Fed now has few choices but to make everything worse,” said Karen Shaw Petrou, managing partner of research firm Federal Financial Analytics, in a Thursday interview.