Fmr. Obama Treasury Counselor Rattner: Fed Will Have to Raise Interest Rates to Level It's 'Never Accomplished' without a Recession

On Friday's broadcast of MSNBC's "Morning Joe," Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, said that the Federal Reserve will have to raise interest rates "to 5, 6%, maybe higher," to get inflation to its target level and "That is a trick the Fed has never accomplished without there being a recession."