Federal Reserve (Fed). The Fed Doubles the Taper Pace and Signals Key Rate Hikes in 2022

It’s been clear for a while that Fed officials would react more vigorously to the latest news regarding inflation, which recently proved to be much higher (5.0% in October according to the consumption expenditure deflator) than forecast in September (4.2%) by members of the monetary policy committee for the last quarter of 2021. The forecast now stands at 5.3%.