Powell may face more opposition as Fed choices become tougher
With inflation as high as 9% in the past year, Powell’s colleagues were all-in on the fight to curb price pressures, with another 25 basis-point hike is expected Wednesday that might be the concluding increase. Yet that consensus is already showing signs of splintering, amid inflation that remains too high while Fed staff – and many private economists – see a recession in coming months.
