Federal Reserve Acts

“The Federal Reserve intensified its fight against high inflation on Wednesday, raising its key interest rate by three-quarters of a point — the largest bump since 1994 — and signaling more rate hikes ahead as it tries to cool off the U.S. economy without causing a recession.” (AP News)

The left is hopeful that inflation will soon slow, and cautions against increasing interest rates too quickly.

The right criticizes the Federal Reserve for not acting sooner, and calls for even more rapid interest rate increases.