US Senator Elizabeth Warren is not happy with the Federal Reserve’s decision to raise interest rates again “extremely”. Not least because chairman Jerome Powell predicts higher unemployment as a result of the interest rate hike. Elizabeth Warren is known as a left-wing politician who has a lot of turnout for ‘the people’.
“Millions of Americans Without Jobs”
If the Federal Reserve continues like this, Warren says it’s only a matter of time before millions of Americans lose their jobs. “I’m afraid they’re already on that path right now,” said a concerned Warren. The reaction with the most likes under Warren’s mini-argument is this: “You can always stop printing trillions of dollars. It’s just a suggestion.”
By the way, it seems that Warren is trying to help her party towards the midterm elections in November with these kinds of statements. Warren belongs to the Democrats, which also includes President Joe Biden. By continuously making these kinds of statements to the strict Federal Reserve and shouting that all student debts should be forgiven, Warren is gaining considerable popularity.
Political pressure on the Federal Reserve is increasing
In itself, it is not wrong for Bitcoin and the rest of the market that the pressure on the Federal Reserve is increasing. It doesn’t matter what reasons Elizabeth Warren, who incidentally has more than 7 million followers on Twitter, has for her criticism of the Federal Reserve. In principle, the current leadership of the Federal Reserve can do little about the situation. Inflation is sky high and they have to intervene, but on the other hand they also have to take into account the enormous mountain of debt.
It seems that the Federal Reserve is increasingly finding itself in an impossible split. Ultimately, in the long run, they will always choose to let inflation run in favor of the economy. Not least because of the enormous pressure from politics. On the other hand, they will also beep differently if inflation were to skyrocket to 20 or 30 percent. Well, we should be glad that we are not in the difficult position of the Federal Reserve.