Despite the ongoing conflict in Ukraine, Federal Reserve Chair Pro Tempore Jerome Powell plans to raise rates by 25 basis points this month.

The first rate increase is expected in a little less than two weeks, coinciding with the March Federal Open Markets Committee meeting, scheduled for March 15 and 16.

President Joe Biden also outlined a plan to reduce inflation including by reducing prescription drug and childcare costs, and creating affordable housing, at the State of the Union address. Biden said he would “go into more detail later.”

In the short-term, however, the federal government’s primary toolkit to reduce inflation is rate details ⇒

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