Slowing the economy enough to control inflation which is at a 40-year high but not too much to send us into a recession is the balance the Federal Reserve is trying to reach right now.
This comes after the Fed signed off on the first rate increase in more than three years back in March. We saw a quarter-percent hike then. "Pressing on the brakes as hard as they are on the economy will slow the economy, hopefully, will help corral inflation but, in all likelihood, it could tip the economy into a recession,” said Greg McBride with Bankrate.
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