The central bank also said it would phase out its monthly bond purchases in March
Some economists have expressed concern that the Fed is already moving too late to combat high inflation
Inflation is expected to remain higher than targeted
Philip Petursson says central banks are behind the curve as he helps advisors position portfolios
Rising consumer prices and likely interest rate hikes are among the top issues at the virtual World Economic Forum
Inflation requires higher interest rates, but "the economy is perfectly able to handle that," says Scotiabank economist
For consumers, inflation has become the most important economic issue
Rating agency revises its forecast for 2022
Core prices jumped 5.5% year over year in the United States, the highest such increase since 1991, driven in part by mismatches between demand and supply
Rate rises to accelerate as Fed pivots on inflation