“The Fed raised rates by a quarter percentage point from near zero, in what is expected to be the first in a series of raises in the coming months.”
Prices rose 7.9% in the year through February, the fastest in 40 years. The Fed answered with a quarter point. Two years of near-zero money inflated stocks, houses and startup valuations for anyone who already owned them. Workers paying 7.9% more for groceries get the bill.