How much 'pain' is the Fed willing to inflict? Wednesday's rate hike will offer clues

Posted on AllSides September 21st, 2022
From The Left
Photo by Drew Angerer/Getty Images

The Federal Reserve is expected to raise interest rates on Wednesday by three-quarters of a percentage point for the third consecutive time in an aggressive move to tackle white-hot inflation that is plaguing the economy, frustrating consumers and stifling the Biden administration.

Imposing another massive hike would mark the central bank's toughest policy move in its fight against inflation since the 1980s — another period of sky-high prices. It would also likely cause economic pain for millions of American businesses and households by pushing up the cost of borrowing for homes, cars and other...

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