As inflation soars, the Federal Reserve is set to announce another interest rate hike
PBS NewsHourSEP 2022
The Federal Reserve is slowing inflation, but at the risk of inducing a recession. The central bank waited too long to start cooling inflation and is now overcompensating, which runs the risk of slowing the economy so much that it shrinks.
The process of bringing down inflation is unpopular and pain-inducing, but necessary. There is broad consensus among Fed bankers and economists that it's time to increase quantitative tightening to rein in inflation; this was the right move.
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