Fed To Throw Its Pandemic Emergency Measures Into Reverse: Reuters

Reuters revisits March 15, 2020, when the U.S. Federal Reserve, in the words of its boss Jerome Powell, "crossed a lot of red lines that had not been crossed before."
Powell cut interest rates to zero, announced huge asset purchases to deflect bond market stress, and opened dollar supply lines for other central banks, fearing a pandemic that threatened recession on a scale not seen since the 1930s.
Fed is expected to throw its pandemic emergency measures into reverse, as on Tuesday it starts a two-day meeting that should deliver a 25 basis-point rate rise and could signal how far and fast policy tightening might go, reported Reuters.
The challenges remain more daunting than those faced in 2020, with a war raging, food and fuel prices soaring expected to exacerbate inflation already more than three times the Fed's target; a double-digit factory inflation print is expected on Tuesday.
Photo by Fed via Flickr