Federal Reserve officials agreed at their meeting last month they would have to raise interest rates faster and to levels high enough to slow economic growth because of the worsening inflation picture
Officials want to lift interest rates to levels that would slow economic growth; ‘an even more restrictive stance’ is possible if inflation doesn’t ease
The Federal Reserve's main tool for managing the economy is to change the federal funds rate, which can affect not only borrowing costs for consumers but also shape broader decisions by companies like how many people to hire. WSJ explains how the Fed manipulates this one rate to guide the entire economy.
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