U.S. Senate Majority leader Schumer concerned about Fed rate rise effect on economy

March 22 (Reuters) – U.S. Senate Majority Leader Chuck Schumer told reporters on Wednesday he was concerned about the effect of a Federal Reserve decision to raise interest rates by a quarter of a percentage point.

“There are competing equities on both sides,” said Schumer. “I will say I am concerned about its effect on the economy.”

Reporting by Moira Warburton and Susan Heavey in Washington; writing by Costas Pitas; Editing by Eric Beech

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