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“There’s a clear path forward to avoiding a devastating and completely avoidable recession: Chair Powell and the Fed should stop raising interest rates,” Rakeen Mabud, the chief economist for the liberal Groundwork Collaborative, said this week.
"Pushing millions of people out of work is not the answer to tackling inflation," Rakeen Mabud, chief economist at the Groundwork Collaborative, said in a statement. "Additional rate hikes could jeopardize our strong labor market—and low-wage workers and Black and…
Today, the Federal Reserve Open Market Committee meets for the first time in 2023, where they are expected to raise interest rates by 25 basis points. ;
Many have warned that the Fed risks pushing the US economy into a recession with its rate hikes. Rakeen Mabud of progressive think tank Groundwork Collaborative said, “It is abundantly clear that we don’t need mass joblessness to tamp down…
But she said higher prices and rising unemployment are not the best strategy to curb inflation because it will throw millions of people out of work, slow down wage growth, and cause immense financial and economic pain. Mabud urged that…
“It is abundantly clear that we don’t need mass joblessness to tamp down inflation,” economist Rakeen Mabud of progressive think tank Groundwork Collaborative said in a statement on Friday. “Inflation is cooling and our economy remains strong. Yet the Fed…
Ahead of the first Federal Reserve Open Market Committee meeting of the year, a chorus of experts across the ideological spectrum are sounding the alarm on the Fed’s approach to inflation.
Progressive groups see an opportunity for Mr. Biden to score political points and define the economic issue before the 2024 campaign begins in earnest. That is in part because polls suggest Americans have little appetite for Social Security or Medicare…
Today, Lindsay Owens, executive director of Groundwork Collaborative, released the following statement ahead of President Biden’s planned speech on the economy and House Republicans’ plans to cut taxes for the wealthiest Americans and biggest corporations.
Rakeen Mabud, Chief Economist of Groundwork Collaboration, said that the Federal Reserve has raised interest rates seven times in the past year and is expected to raise interest rates again at the end of January. Federal Reserve Chairman Jerome Powell…