The almost historic rate hike comes negligently late. After all, the inflation rate has reached the highest level most Americans have ever experienced. Now the Federal Reserve has to save credibility – regardless of losses on the financial markets.
It remains to be seen whether Jerome Powell has what it takes to become a future idol.
If that isn’t negligently late, then what is: The American central bank, the Fed, The key interest rate was raised to half a percent on Wednesday, although the inflation rate is worlds higher at just under 8 percent – and although it is likely to increase further in the near future due to high energy and commodity prices. But that doesn’t matter anymore. After all, the rate-determining body has been playing for time for too long.