What smart people in business and economics are saying about the Fed interest rate hike

The Federal Reserve raised interest rates by a quarter point, its first hike in three years, in an effort to curb inflation. Fed Chair Kevin Warsh said the move would not immediately lower individual prices, meaning Americans could still face pressure at grocery stores and gas pumps. Warsh declined to say whether more hikes were coming and rejected forward guidance, stating that future decisions would depend on incoming economic data. Economists and analysts are discussing what could come next.

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