Excerpt

Raise Rates Today to Fight a Recession Tomorrow. Martin Feldstein, November 26, 2018, Opinion, "Federal Reserve Chairman Jerome Powell will lay out a vision Wednesday for the course the Fed will steer through coming economic turbulence. So far, the Fed’s governors have appeared committed to their plan to continue raising interest rates, which they began in late 2015 after nearly a decade of holding them near zero. The federal-funds rate has jumped from 0.3% in January 2016 to 2.2% today, and the median forecast of the Federal Open Market Committee is that it will reach 3.4% by the end of 2021." Link