Fed Chief Powell Faces Criticism Amidst Uncertain Economic Outlook

The Federal Reserve is expected to raise interest rates by another 25 basis points on Wednesday, which may be the last increase in the current hiking campaign. However, the consensus among Fed officials is showing signs of splintering, with inflation remaining high and many private economists predicting a recession in the coming months. The committee may have to decide whether to continue the fight against inflation or try to cushion a slowing economy. The looming US debt ceiling and tighter credit conditions are also adding to the uncertainty.