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Jason Furman: It’s not the Fed’s job ‘to rescue the financial system by cutting interest rates’
Jason Furman, the former Chair of the White House Council of Economic Advisors under President Obama, joins Andrea Mitchell to offer his insights on the Federal Reserve’s consideration of raising interest rates to combat inflation as the banking system continues to recover from a recent series of bank failures. “Demand is still too high. Inflation is too high. But a lot of banks are in the process of cutting back their lending right now. And so that means the Fed may not need to raise rates as much as it had expected, because banks are going to do a lot of the job on their own,” Furman says. “That being said, I do think the Fed needs to make it clear that their job is not to rescue the financial system by cutting interest rates. Their job is to set interest rates in order to control inflation. And then they have other tools, tools like lending facilities if the financial system needs liquidity assistance.” » Subscribe to MSNBC: https://ift.tt/nc5AeSI Follow MSNBC Show Blogs MaddowBlog: https://ift.tt/pDPFZGY ReidOut Blog: https://ift.tt/M6BXVs2 MSNBC delivers breaking news, in-depth analysis of politics headlines, as well as commentary and informed perspectives. Find video clips and segments from The Rachel Maddow Show, Morning Joe, The Beat with Ari Melber, Deadline: White House, The ReidOut, All In, Last Word, 11th Hour, and Alex Wagner who brings her breadth of reporting experience to MSNBC primetime. Watch “Alex Wagner Tonight” Tuesday through Friday at 9pm Eastern. Connect with MSNBC Online Visit msnbc.com: https://ift.tt/2ZWV5KD Subscribe to the MSNBC Daily Newsletter: MSNBC.com/NewslettersYouTube Find MSNBC on Facebook: https://ift.tt/NdJn5Ew Follow MSNBC on Twitter: https://ift.tt/WOLVKtx Follow MSNBC on Instagram: https://ift.tt/yFoSrvX Jason Furman: It’s not the Fed’s job ‘to rescue the financial system by cutting interest rates’ #FedReserve #Economy #Business

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