Fed Preparing to Lift Interest Rates by Another 0.75 %.
Fed Chairman Jerome Powell has said he can’t guarantee the central bank will be able to bring down inflation without a recession.
Federal Reserve officials have signaled they are likely to raise interest rates by 0.75 percentage point later this month,
For the second straight meeting, as part of an aggressive effort to combat high inflation.
Policy makers left the door open to a larger, full-percentage-point increase at the July 26-27 gathering.
Some officials pointed to signs that economic activity was softening as they raise rates at a historically brisk pace.
“You don’t want to overdo the rate increases. A 75-basis-point hike, folks, is huge,”
said Fed governor Christopher Waller.
Before last week, officials had signaled they were leaning toward a 0.75-point, or 75-basis-point, increase this month.