The Fed Has to Raise Rates

“Officials at the Federal Reserve are in broad agreement that interest rates need to rise in order to tame inflation that continued to accelerate this year,” the New York Times reports.

“Less settled is the pace of those increases and how aggressive the Fed will need to be in order to return inflation to its 2 percent target, which has overshot that level for nearly six years.”

“The debate deepened on Tuesday after new data released by the Bureau of Labor Statistics showed that price pressures broadened out in October, resulting in a swifter pickup in inflation than was expected.”