Stocks Tumble as Fed Finds Itself Caught Between Rising Inflation and Slowing Growth
Notes released today from the last Fed meeting pack some punches for investors. They suggest Big Ben might raise interest rates to fight inflation, despite slower consumer spending, sluggish earnings, and a housing market that’s falling apart. What now?
CNBC Senior Economics Reporter Steve Liesman joins the guys for this conversation.
Steve shows the panel a portion of the Fed statement. It says “The Committee agreed that further policy firming might prove necessary to foster lower inflation, but in light of the increased uncertainty about the outlook for both growth and inflation, the Committee also agreed that the statement should no longer cite only the possibility of further firming.”