Global Economy Sinks Deeper into Turmoil

“When Federal Reserve officials raise interest rates on Wednesday, they will do so amid an unfortunate economic reality: Many of the inflationary pressures they had long assumed would dissipate have instead lingered, and some are getting worse,” the New York Times reports.

“Now, as Fed officials prepare to begin a series of interest rate increases to try to bring inflation under control, they once again appear to be aiming at a moving target.”