The accelerated timetable puts the Fed on a path to start raising rates in the first half of next year
Fed officials are expected to forecast two or three rate hikes next year at tomorrow's meeting
The U.S. economy still remains under threat from a spike in inflation, shortages of labour and supplies
Powell also elevated inflation-fighting as a more urgent priority than supporting job growth
For now, omicron hasn't much affected the Fed's economic outlook
Efforts to contain inflation will constitute the stiffest test
The inflation spike is affecting consumers, the Biden administration and central banks
High prices aren't deterring consumers from spending
The Labor Department said Friday that 4.4 million people quit their jobs in September
The inflation rate was the largest since 1990