Low rates for decades caused the problem, not high interest rates – Grant Williams.
Sen. Elizabeth Warren Grills Federal Reserve Chair Over Unemployment
In a viral exchange back in March, Sen. Elizabeth Warren (D-Mass.) grilled Federal Reserve Chair Jerome Powell over the unemployment caused by the Fed’s recent rate hiking cycle.
“Do you call laying off two million people this year not a ‘sharp’ increase?” the senator asked. “Explain that to the two million families who are going to be out of work.”
Lawmakers Speak Out
Warren is not the only lawmaker speaking out about the impact of the Fed’s actions on the American workforce. Others have also expressed concern over the rising unemployment rates and the effect it will have on families across the country.
What Can Be Done?
As the debate over the Fed’s policies continues, many are calling for action to be taken to address the unemployment crisis. Some are advocating for a more gradual approach to rate hikes, while others are pushing for increased government spending to stimulate job growth.
- Gradual approach to rate hikes
- Increased government spending to stimulate job growth
Whatever the solution may be, it is clear that something needs to be done to address the growing unemployment problem in America.
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