Sen. Elizabeth Warren: ‘Inflation Is Easing’ and ‘We Don’t Need More of These Gigantic Increases in the Interest Rates’

‘I very much hope that we will not see more interest rate increases, certainly at the levels that we’ve seen them in the past’

TRANSCRIPT:

WARREN: "You know, the data very much back up the idea that inflation is easing. I get it, we want to bring down the inflation rate, but that means landing the plane, not crashing the plane. We don’t need more of these gigantic increases in the interest rates. And I would just say, as I’ve said so many times to the Federal Reserve chair, remember, you have a dual mandate, and the dual mandate, yes, is to make sure that we keep inflation under control, but it’s also for employment, to keep people around this country employed. I keep trying to remember, remind him, that what is worse than inflation and low employment, it's inflation and high unemployment. So I very much hope that we will not see more interest rate increases, certainly at the levels that we’ve seen in the past, and that the Fed, as you rightly say, will take 'yes' for an answer. We’re getting inflation under control. Let's land this plane smoothly for hardworking families all across this country."

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