Waters: Raising Interest Rates 'Has Not Been Working' and May Cause a Recession, But It's 'All that We Have' to Fight Inflation

On Saturday's broadcast of MSNBC's "Velshi," House Financial Services Committee Ranking Member Rep. Maxine Waters (D-CA) stated that raising interest rates to lower inflation "has not been working in the way that it should." And "it doesn't look good right now. We may be in for a recession." But interest rate hikes are "all that we have as a traditional way of containing inflation" and "We don't have" an answer to lower inflation.