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shutting down small businesses because the cost of money goes up, because the interest rates go up. i m very worried that the fed is going to tip this economy into a recession. that was massachusetts senator elizabeth warren blasting federal reserve chair jerome powell this morning and raising concerns that continued interest rate hikes could spark a recession. on friday, powell announced the fed will raise rates as high as needed and for as long as necessary to bring down inflation. joining me now to discuss is professor of economics and public policy at the university of michigan and senator fellow at the brooking institution, justin wolfers. hi, justin. so let s start with your reaction to what you just heard there. do you share senator warren s concern that the fed may tip the economy into a recession? well, i do and i don t, and that s a funny sort of economist answer. but let s come back and try and put what powell said in a different context. here s an analogy.

Interest ratesElizabeth warren blasting federal reserveInterest rate hikesOn fridayJustin wolfersPublic policyBrooking institutionUniversity of michiganEconomist answer