The Fed Unveils a Tougher Plan to Fight Stubbornly High Inflation

2 years ago
2

Faced with mounting pressure from rapidly rising consumer prices, the Federal Reserve is preparing to raise interest rates sooner — and perhaps more aggressively — than had been expected just a few months ago.

The central bank is trying to prevent stubbornly high inflation from becoming a permanent feature of the economy. Prices in December were up 7% from a year earlier — the sharpest jump in nearly four decades.

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