BITCOIN

U.S. Senator Sherrod Brown has asked Fed Chair Jerome Powell not to forget the Federal Reserve’s “dual mandate” when making decisions about hiking interest rates at the next Federal Open Market Committee (FOMC) meeting. “It is your job to combat inflation, but at the same time, you must not lose sight of your responsibility to ensure that we have full employment,” the senator told the Fed chairman. U.S. Senator Reminds Powell of Fed’s Dual Mandate Federal Reserve Chairman Jerome Powell is facing political pressure over interest rate hike decisions. U.S. Senator Sherrod Brown (D-OH), chair of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Powell on Tuesday asking him to consider the Fed’s dual mandate before making any decision to raise interest rates in the next Federal Open Market Committee (FOMC) meeting. Senator Brown wrote: As you know, the Federal Reserve is charged with the dual mandate of promoting maximum employment, stable prices, and moder