US lawmakers warn Fed about recession, urge focus on price stability


US lawmakers warned the Federal Reserve about a recession Thursday and urged the central bank to focus on price stability, during Fed Chair Jerome Powell’s testimony before the House of Representatives Committee on Financial Services. 

Committee Chairwoman Maxine Waters said the price of housing, gasoline and groceries have skyrocketed.

“While it is important for the Fed to fight inflation, I would caution against any approach that ignores the Fed’s…

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