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Another Democratic Senator Pressures Fed Ahead of Expected Rate Hike

  • Colorado’s Hickenlooper weighs in with letter to Powell
  • Central bank set to extend aggressive moves to curb inflation
John Hickenlooper
John HickenlooperPhotographer: Christopher Goodney/Bloomberg

Senate Democrat John Hickenlooper called on the Federal Reserve to pause its aggressive campaign to curb inflation, seeking to pressure the central bank ahead of its anticipated decision next week to raise interest rates by another 75 basis points.

“High inflation necessitates a response. But the concern is the Fed is doing too much, too quickly,” the lawmaker from Colorado wrote in a letter Thursday. “I write to urge the Federal Reserve to pause and seriously consider the negative consequences of again raising interest rates.”