Transcripts for CNN CNN Newsroom With Jim Acosta 20220123 22

CNN CNN Newsroom With Jim Acosta January 23, 2022 22:48:00

we work with but also the people at the store. >> thanks for getting that message out, we appreciate it. >> i'm watching the game now. take care. >> all right, take care, have a good night. here is christine romans with your before the bell report. >> hi, jim. on inflation watch, attention turns to the federal reserve and its plan to fight rising prices. the fed has already started winding down its emergency stimulus and has hinted at three interest rate hikes this year. no hike is expected when the central bank meets this week. instead wall street is betting the first one comes in march. but how big will it be and how many will follow? those are the questions investors hope fed chief jerome powell answers on wednesday. bond yields have already started climbing in anticipation of fed hikes. that's weigh on the stock market. last week the nasdaq entered correction territory, meaning a 10% drop from a recent high. after two years of spectacular stock market gains, the market's focus now is on how aggressively the fed will try to cool down the economy to fight inflation.

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