The Fed May Make Fewer Raises. Interest Rates Are Already Up.

The Federal Reserve might have to stop short of raising interest rates as many times as expected. That’s because rates across the economy are already starting to rise, posing a threat to economic demand. 

The Fed is currently pledging to lift rates many times. In March, the central bank projected 11 increases in the ultra short-term fed-funds rate, as it tries to tamp down high inflation. 

But…