Sanders: Federal Reserve is hurting economy
Sen. Bernie Sanders (I-Vt.) said on Sunday that the Federal Reserve is hurting the economy more than helping amid high inflation, rising interest rates and fears of recession.
“I think they’re hurting the situation,” Sanders said of the Fed on NBC’s “Meet the Press.”
“I think it is wrong to be saying the way we deal with inflation is by lowering wages and increasing unemployment. That is not what we should be doing,” Sanders said, noting that he wouldn’t hike interest rates any further.
“This inflation thing is a real issue, it is a global issue, but at a time when working families are struggling and the people on top are doing phenomenally well, … you don’t go after working people. ”
The Federal Reserve has been raising interest rates to try to tamp down inflation as concerns about a potential recession grow. Federal Reserve Chair Jerome Powell has said the hikes could cause more unemployment and even lead to recession.
Sen. Bernie Sanders (I-Vt.) said on Sunday that the Federal Reserve is hurting the economy more than helping amid high inflation , rising interest rates and fears of recession .
“I think they’re hurting the situation,” Sanders said of the Fed on NBC’s “Meet the Press.”
“I think it is wrong to be saying the way we deal with inflation is by lowering wages and increasing unemployment . That is not what we should be doing,” Sanders said, noting that he wouldn’t hike interest rates any further.“This inflation thing is a real issue, it is a global issue, but at a time when working families are struggling and the people on top are doing phenomenally well, … you don’t go after working people .”The Federal Reserve has been raising interest rates to try to tamp down inflation as concerns about a potential recession grow. Federal Reserve Chair Jerome Powell has said the hikes could cause more unemployment and even lead to recession .Sanders on Sunday also rejected the suggestion that last year’s American Rescue Plan contributed to inflation , noting that the international community is seeing economic struggles .“ Inflation globally is caused by the pandemic and the break in supply chains. It is caused by, in my view the war, in Ukraine, obviously, and it is also caused by incredible corporate greed,” Sanders said.
