Week InReview: March 18, 2022

Powell believes U.S. economy is tough enough to cope.
Federal Reserve Chair Jerome H. Powell wants to get a grip on inflation without snuffing out the economic recovery from the pandemic. Photo: Jacquelyn Martin | Associated Press
The Federal Reserve raised interest rates for the first time since 2018 and outlined a plan to hike six more times this year, sparking recession fears. Even so, it doesn't expect inflation to decelerate toward 2% for at least a couple of years. And remember all the bonds it's been buying during the downturn? It plans to reduce its balance sheet containing all those assets, but hasn't set a firm plan yet.

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