- Fed Chief Jerome Powell is said to be eyeing raising borrowing rates from 0%-5% by next year.
- Already planning another pre-election .75% jump.
The last time the central bank adjusted policy that quickly, in the 1980s, it inflicted economic pain that inspired intense backlash against the sitting chair, Paul A. Volcker. And while the rate increases were more extreme back then, the Fed’s moves were under far less public scrutiny than they are today, when global financial markets hang on every word coming from the central bank.
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