Monday, November 28, 2022
Waters Warns Chair Powell About Consequences of Interest Rates Hike
By Sentinel News Service
Published November 17, 2022

Rep. Maxine Waters (File photo)

Following the Federal Reserve’s recent decision to increase the federal funds rate by 0.75 percent to a target range of 3.75 percent to 4 percent – marking the sixth consecutive rate hike and the fourth consecutive super-sized rate hike in just the past eight months – Congresswoman Maxine Waters, chairwoman of the House Financial Services Committee, sent a letter to Federal Reserve Chair Jerome Powell on Nov. 4.

In the letter, Waters urges Chair Powell to consider the significant pain that these rate increases may inflict on families across the country and the impact these increases are having on the cost of housing, which remains a key driver of core inflation.

“I am deeply troubled by the Federal Reserve’s (Fed’s) rapid series of super-sized interest rate hikes, which may inflict unnecessary pain on millions of individuals and families while sending the economy into a devastating recession,” said Waters.


“This week’s Federal Open Market Committee (FOMC) decision marks the fourth consecutive mega rate hike by the Fed, resulting in the highest federal funds rate since before the 2008 global financial crisis and the fastest set of rate hikes by the Fed in four decades. Enough is enough.”

To view the letter, visit

Categories: News | Political
Tags: | | |

Get the Los Angeles Sentinel App!

Since 1933 The Voice of Our Community Speaking for Itself.
89 Years of LA Sentinel.
Black News.

Daily Brief

LA Sentinel
in your pocket:


LA Watts Times

© 2022 Los Angeles Sentinel All Rights Reserved • A Bakewell Media Publication

AboutArchivesContact UsCorrections & MisprintsMedia Kit

Terms of ServicePrivacy Policy

LA Watts TimesTaste of Soul

Close / I'm already on the list

Subscribe Today!

Don't be limited anymore! Subscribe Now »

** Existing subscribers, please Login / Register for Digital »

Subscribe to The Los Angeles Sentinel for only $5.99 $3.99 per month, with 1 month free!

Relax in comfort each week as you read the printed newspaper on your own time, delivered weekly to your home or office. This subscription also includes UNLIMITED DIGITAL ACCESS for all of your devices. Includes FREE shipping! One easy payment of $3.99/month gets you:

Subscribe Now »