The Fed raised interest rates the most in nearly three decades to fight stubborn inflation. A finance expert explains what’s happening, the risks and what it means for consumers.
Consumers are perhaps feeling inflation pain most at the pump.
AP Photo/Rick Bowmer
A bigger-than-expected jump in inflation means the Fed may have to get more aggressive about interest rate hikes. An obscure economic indicator suggests it has room to do so.
Jerome Powell has a tough job ahead.
Tom Williams, Pool via AP
Transitory or persistent? That’s still the big question facing central bankers over inflation.
Biden reappointed Jerome Powell, seated at left, to head the Fed. Some progressives wanted him replaced with Lael Brainard, seated right.
AP Photo/Manuel Balce Ceneta
After weeks of mulling, Biden decided to give Powell another term as Fed chair, which means he will have more influence over the trajectory of inflation than anyone else.
Fed Chair Jerome Powell prepares for the end of the era of cheap money.
Matt McClain/The Washington Post via AP
The Federal Reserve decided to slow its pace of bond-buying, potentially the beginning of the end of a program that’s been supporting the economy since March 2020.