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The Fed Is Upside-Down on Inflation and That's a Big Risk

Economists say it’s hard to understand how the Fed will bring inflation down if the federal funds rate remains negative throughout the year, as shown in officials' own projections.

Jerome Powell, U.S. Federal Reserve chief (Valerie Plesch/Bloomberg via Getty Images)
Jerome Powell, U.S. Federal Reserve chief (Valerie Plesch/Bloomberg via Getty Images)