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Transcript: Ed Harrison Explains What the Fed Is Really Trying to Accomplish

Jerome Powell, chairman of the US Federal Reserve, following a ceremony in Washington, D.C., US.

Jerome Powell, chairman of the US Federal Reserve, following a ceremony in Washington, D.C., US.

Photographer: Al Drago/Bloomberg

Inflation is too high, and the Federal Reserve has started on an aggressive hiking path in order to tame it. But will these hikes really accomplish anything? After all, the Fed can't print more oil or housing. So what is the central bank's real goal here? On this episode we speak with Edward Harrison, a senior reporter on the Bloomberg markets team, and the author of the 'The Everything Risk' newsletter. He explains how the Fed sees the challenge at hand, what rate hikes are supposed to do, and the odds of it all actually working out as planned. Transcripts have been lightly edited for clarity.

Ed Harrison Explains What the Fed Is ...