Two Economists Explain the Federal Reserve’s Fourth Consecutive Interest Rate Hike ...Middle East

The Federal Reserve on Wednesday announced an interest rate hike of 75 basis points for the fourth consecutive time.With inflation at a 40-year high, the Fed has been scrambling to get interest rates high enough that people stop spending money, slowing the economy down in turn. If spending goes down, then so will demand and eventually prices, too.But the risk is that growth will slow while prices and borrowing rates stay high, sending the economy into a recession.Ryan Sweet, chief economist at Oxford Economics, and Dean Baker, senior economist at the Center for Economic Policy and Research, answered five questions about what this means going forward.What will the decision mean for Americans?

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