Economics
Fed Dashes Cold Water on Shock-and-Awe Hike of 75 Basis Points
- Mester backs methodical path; jumbo hike not ‘right way to go’
- Hawkish anti-inflation tone from Fed still hammers U.S. stocks
Jerome Powell
Photographer: Graeme Jennings/Washington Examiner/Bloomberg
This article is for subscribers only.
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
Federal Reserve officials are showing scant support for what would be the most drastic single policy tightening in almost three decades, though they’re on board with a series of still-large moves aimed at curbing an inflation spiral.