The Federal Reserve is planning to raise interest rates as soon as March, a key step in reversing its pandemic-era low-rate policies that both fueled hiring and escalated inflation.
With high inflation squeezing consumers and businesses, the Fed also said it will phase out monthly bond purchases in March.
The Fed’s actions are sure to make a wide range of borrowing costlier over time. As a result, those higher borrowing costs could slow consumer spending and hiring. Learn more.