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Economics
Central Banks

Fed Set to Reveal ‘Pain’ Coming in Next Stage of Inflation Fight

  • FOMC unemployment forecasts will probably be revised higher
  • Rates expected to be hiked 75 bps for third straight meeting
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What Summers Wants to See Out of This Week's Fed Meeting

Federal Reserve officials are about to put numbers on the “pain” they’ve been warning of in recent weeks when they publish new projections for the economy, which could show a substantial rise in interest rates and unemployment ahead as the estimated price tag for reducing inflation.

The US central bank will release its latest quarterly projections Wednesday following a two-day policy meeting in Washington, where officials are expected to raise their benchmark rate by three-quarters of a percentage point for the third time in a row.