Central Banks
Fed’s Low Political Profile at Risk With Job Losses Set to Rise
- Officials on track for another 75 basis-point hike Wednesday
- Democrat lawmakers are increasingly pushing Powell in public
This article is for subscribers only.
The Federal Reserve is getting an early taste of the next two years as Democratic lawmakers warn it against pushing the US economy into recession via its massive interest-rate hikes.
With the central bank preparing to boost rates again Wednesday and Americans voting in midterm congressional elections Nov. 8, Senate Banking Committee chief Sherrod Brown of Ohio and Colorado Senator John Hickenlooper last week publicly lobbied Chair Jerome Powell to exercise restraint.