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The Fed faces 'so many unknowns' now as it digs in to fight against inflation

Federal Reserve Board Chairman Jerome Powell waits for the beginning of a hearing before Senate Banking, Housing and Urban Affairs Committee on Capitol Hill November 30, 2021 in Washington, DC.
Alex Wong | Getty Images

Federal Reserve officials made a stand Wednesday, switching from champions for employment equality to fighters of inflation.

To do so, they pointed to a unique and aggressive path that will see it not only raise interest rates but also siphon off some of the $8 trillion in easing provided over the last 14 years.

The lingering question will be whether they actually can pull it off.

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