Surging inflation clears way for biggest Fed hike in years

Last week, the World Bank warned of the threat of “stagflation” — slow growth accompanied by high inflation — around the world. By the end of 2022, the Fed will have raised its key rate as high as a range of 3.25% to 3.5%, some economists estimate, higher than what was forecast just a few weeks ago.

https://abcnews.go.com/US/wireStory/biggest-rate-hike-years-expected-fed-tackles-inflation-85406466