11/3/2021- 9:08 p.m.
US Federal Reserve set to wind down Covid stimulus amid fears central bank may raise interest rates.
The Fed. announced it will be winding down its massive Covid stimulus program due to fears the central bank will have to raise interest rates to keep up with inflation. (The Guardian)
The Fed. stated they would cut spending by $15 billion a month on Wednesday — but interest rates would remain the same.
Despite the perceived good news, Fed. chair Jerome Powell added times were tough saying it was “very difficult to predict the persistence of supply constraints or their effects on inflation.”
