Warren calls on Fed to halt interest-rate hikes as inflation eases

BLOOMBERG 

Senator Elizabeth Warren called on the Federal Reserve to halt interest-rate increases as the US inflation rate slid to a more than two-year low.
“Take yes for an answer, Chair Powell, and let’s stop with the rate increases,” Warren, a Massachusetts Democrat, said in an interview.
She has famously called Jerome Powell, the central bank’s chairman, a “dangerous man to be running the Fed” and voted against his renomination to the post.
At 3% last month, consumer-price inflation is now just one-third of the level it reached a year ago, which was the highest in four decades. And the details for June were also better than expected, with key measures of underlying inflation coming in below forecasts. Warren also urged the Fed to follow through on higher capital requirements for large banks being proposed by Fed Vice Chair Michael Barr.
“Barr is headed in the right direction. Is it enough? No. We still have a lot of problems. We have too much concentration in the banking industry,” she said.
“We’re not out of the woods yet, but I feel a lot better when I read Michael Barr talking about the need to tighten down on bank regulation. Go Michael.”