White House: Fed interest rates having negative effect on banking
newscatcher
2023-05-03 00:32
White House: Fed interest rates having negative effect on banking
WASHINGTON -A top White House economist on Tuesday said Federal Reserve interest rate hikes aimed at curbing inflation were having a negative impact on the banking sector, and warned Republicans against worsening the situation with their debt ceiling threats. Heather Boushey, a member of the White House Council of Economic Advisers, told Reuters that Republicans should not be 'playing games' with the U.S. economy, by pegging an increase in the $31.4 trillion debt limit to budget cuts. 'The economy remains, it's been strong.

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