The Fed ramping up its intense fight against inflation this week probably won't help Americans facing skyrocketing gas and food prices
Business InsiderJUN 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.