After being tardy in reacting to price pressures, a half a percentage point increase would show that the Fed is serious about containing inflation. The economy is strong enough to cope, writes GinaChon:
U.S. consumer prices rose 7.5% in the 12 months through January, the biggest increase since February 1982, the Labor Department said on Feb. 10.
An inflation measure that excludes volatile food and energy costs increased 6%, the largest 12-month rise since August 1982.U.S. Federal Reserve Board Chairman Jerome Powell speaks during his re-nominations hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington, U.S., January 11, 2022.
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