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Jia Liu
Liftoff at the Fed: What Now?
Normally, raising interest rates is a form of a contractionary monetary policy, meaning that the central bank believes the economy is overheated or strong enough, so that higher rates are necessary to prevent future excessive inflation. But this is not the case today. Inflation has been stubbornly low in the past few years, which is a big concern for the Fed. The FOMC today continued to lower its projection for inflation in the short term.
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