, Columnist
The Fed Is Close to Risking a Recession to Fight Inflation
The hottest price gains in 40 years leave it little choice.
What happens if I pull this lever?
Photographer: CARL DE SOUZA/AFP/Getty Images
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As we wrote last summer about Simone Biles, and as we keep seeing demonstrated in the Beijing Olympics, too much attention and pressure can make even the most skilled athletes falter. We’d better hope the same doesn’t apply to central bankers, because they are under “Uncut Gems” levels of strain right now.