Elizabeth Warren says Jerome Powell needs to come back from vacation and cut interest rates now

Sen. Elizabeth Warren criticizes Fed Chair Powell for 'made a serious mistake not cutting rates' in light of Friday's weak jobs report.

Warren urges Powell to 'cancel his summer vacation and cut rates now - not wait 6 weeks', citing the urgency to prevent economic downturn.

Fed Chair Powell mentions that a rate cut 'could be on the table' during the upcoming Fed meeting, responding to the concerns raised.

Warren has been vocal in criticizing Powell's 11 interest-rate hikes since March 2022, citing potential negative impacts on job stability.

Read at Business Insider