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Federal Reserve plans to raise interest rates 'soon' to fight inflation: What that means for consumers and the economy

  • Written by Alexander Kurov, Professor of Finance and Fred T. Tattersall Research Chair in Finance, West Virginia University
Federal Reserve plans to raise interest rates 'soon' to fight inflation: What that means for consumers and the economyAll eyes are on Fed Chair Jerome Powell as the central bank prepares to raise rates for the first time in three years. Brendan Smialowski/Pool via AP

The Federal Reserve on Jan. 26, 2022, signaled plans to begin raising interest rates “soon” – possibly in March – in a bid to tamp down inflation before it poses a serious risk...

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