Federal Reserve System – Page 91

Your Tuesday Evening Briefing

Here’s what you need to know at the end of the day.

The central bank has hoped to cool down the economy without pushing unemployment much higher. Stubborn inflation narrows that path.

The Federal Reserve has the tools that it needs. Now it should use them.

The losses in China, Japan and Australia followed weakness in the United States, where stocks closed in bear market territory.

Central bankers had signaled that they would raise rates by half a point if data shaped up as expected. Inflation is instead running hotter.