FOMC moves aggressively (again), hoping to slow inflation. Will it work?

Economic Insights by Nationwide · Jul 27, 2022 · 15m

In the July FOMC meeting, the Fed announced an increase of interest rates by three quarters of a percent, the second time in as many months. How much higher could the Fed raise rates? How could this help to slow down inflation? How could the markets react to this increase? And could a recession be on the horizon? Nationwide's Deputy Chief Economist Bryan Jordan and Senior Economist Ben Ayers provide their perspectives on the Fed's announcement and share their outlook on future rate increases.