Federal Reserve raises key interest rate again in an aggressive drive to curb inflation.
The central bank is betting that it can slow growth just enough to tame inflation yet not so much as to trigger a recession — a risk that many analysts fear may end badly.
Federal Reserve Chairman Jerome Powell spoke on Thursday about the continuing effort to fight inflation. “How much recession risk are you willing to bear to get back to 2%, quickly, versus over the course of several years?” asked Nathan Sheets, a former Fed economist who is global chief economist at Citi. “Those are the kinds of issues they’re going to have to wrestle with.”
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