The Fed Is Overreacting
If the US Federal Reserve continues to hike interest rates in large increments, as Fed Chair Jerome Powell recently suggested, economic growth, financial markets, and people’s well-being will suffer. It won’t be pretty – and it won’t be right.
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ITHACA – At this year’s Jackson Hole symposium, a major event on the calendars of the world’s central bankers, US Federal Reserve Chair Jerome Powell delivered an uncharacteristically strong message about how the Fed plans to combat today’s high inflation.