Fed officials could raise rates by 50 or 75 basis points later this month. KEVIN WOLF/ASSOCIATED PRESS
Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Federal Reserve Prepares More Big Rate Hikes Amid Risk That High Inflation Could ‘Become Entrenched’
- With surging inflation showing no signs of abating, Fed policymakers plan to raise interest rates by either 50 or 75 basis points at the upcoming meeting in July.
- While tighter monetary policy “could slow the pace of economic growth for a time,” it is “critical” to achieving long-term inflation goals, central bank officials agreed, pledging to take more aggressive action even if it means hurting economic growth.
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