White House: Fed interest rates having negative effect on banking

2 May 2023, 12:00 am

1 min read

FILE PHOTO: Heather Boushey, appointed to be a member of the Council of Economic Advisers, speaks as U.S. President-elect Joe Biden announces nominees and appointees to serve on his economic policy team at his transition headquarters in Wilmington, Delaware, U.S., December 1, 2020. REUTERS/Leah Millis/File Photo

In an exclusive conversation with Reuters, Heather Boushey, a member of the White House Council of Economic Advisers, 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.