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The Fed aims to clamp down on inflation with rate hikes. Will it work?

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The Federal Reserve is shifting its approach to the economy and monetary policy. It's a major change after holding interest rates at near zero levels. Given the pandemic, it's not without its own risks. But the Fed chairman said the state of the economy required changing course. Lisa Desjardins begins the report, with more from Greg Ip, chief economics commentator for The Wall Street Journal.

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Category
U.S. & Canada
Tags
pandemic economy, unemployment, US inflation
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