(CNBC) The Federal Reserve is tasked with slowing the U.S. economy enough to control inflation but not so much that it tips into recession. Financial markets expect the central bank on Wednesday to announce a half-percentage point increase in the Fed’s benchmark interest rate. The fed funds rate controls the amount that banks charge each other for short-term borrowing but also serves as a signpost for many forms of consumer debt.
Fears of a Fed mistake grow as this week’s anticipated interest rate hike looms
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