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Powell again is facing political pressure as worries mount over the economy

2022-10-27 08:53:34       source:CNBC

October 26, 2022

Political questioning of Federal Reserve Chair Jerome Powell about the central bank’s policy moves is intensifying, this time from the other side of the aisle.

No stranger to political pressure, the Fed chief this week found himself the focus of concern in a letter from Sen. Sherrod Brown. The Ohio Democrat warned in the letter about potential job losses from the Fed’s rate hikes that it is using to combat inflation.

"It is your job to combat inflation, but at the same time you must not lose sight of your responsibility to ensure that we have full employment," Brown wrote. He added that "potential job losses brought about by monetary over-tightening will only worsen these matters for the working class."

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