Federal Reserve Chairman Jerome Powell has acknowledged the economic pain this rapid tightening regime may cause.
A larger hike is possible, but unlikelySome economists even expect the Fed to implement a massive — and historic — full-point rate hike on Wednesday.
It meant that people understood the seriousness of the Fed’s commitment to getting inflation rates back down to 2%, he said.
They want higher bond yields,” former New York Federal Reserve President Bill Dudley told CNN back in May.
The Federal Reserve announces its rate hike decision Wednesday at 2 p.m.