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Can the Fed Do the Job?

Can the Fed Do the Job?
The Federal Reserve Board Building on June 14, 2022. Sarah Silbiger/Reuters
Milton Ezrati
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Commentary

Since the Federal Reserve began its counter-inflation effort in March, it has acted forcefully. It has raised its benchmark federal funds interest rate by 1.5 percentage points and reversed its long-standing program of quantitative easing.

Milton Ezrati
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is "Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live."
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