“Just last month, the Federal Reserve was set on keeping its key interest rate near zero to boost the economy and help more Americans return to work after the COVID-19-induced recession.
“Now, the Fed seems nearly as determined to raise the short-term rate to fight inflation.
“In an effort to rein in price increases that hit a 39-year high last month, the Fed on Wednesday agreed to clear the way for earlier and faster interest rate increases in 2022 by accelerating the phaseout of its bond-buying stimulus.
“It’s now forecasting three rate increases next year.”
Read more at USA Today
