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

(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)