Fed Eyes Earlier Interest-Rate Increase

“Federal Reserve officials signaled they expect to raise interest rates by late 2023, sooner than they anticipated in March, as the economy recovers rapidly from the effects of the pandemic and inflation heats up,” the Wall Street Journal reports.

CNBC: “Though the Fed raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are ‘transitory.'”