Senate Banking Chief Urges Fed Focus on Jobs as Rate Hike Looms

Sherrod Brown, the US senator from Ohio who plays a key role overseeing the Federal Reserve as head of the Senate Banking Committee, sent Fed Chair Jerome Powell a letter Tuesday asking him to stay focused on employment as the central bank fights inflation.

“We must avoid having our short-term advances and strong labor market overwhelmed by the consequences of aggressive monetary actions to decrease inflation, especially when the Fed’s actions do not address its main drivers,” Brown, a Democrat, wrote in the letter.