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historic inflation. the decision will likely produce ripple effects on your personal finances and the economy in the months to come. cnn s matthew gin et joins us. we ve been awaiting this decision, what has the fed said? 75 basis points, the fed just delivered another massive interest rate hike, designed to put this inflation fire out. that means higher borrowing costs. this is the fourth straight interest rate hikes. this is historic. we ve never seen drastic actions like this under janet yellen. we never saw this from ben bernanke, or even alan greenspan. you have to go back to the early 80s under paul volcker. i think this says how stubborn the inflation has been. the fed s statement, which is watched very closely, is basically identical to last month, except for one key part. the fed reiterated that ongoing interest rate hikes are likely to be appropriate, but they added that this is going to be the case in order to get policy restrictive enough to get inflation ....
That for many months down the line. so the question is, which do they start slowing? and presumably we ll hear the chairman asked about it soon and how go they convince slowing does not mean a 50 base-point hike, for example, does not necessarily mean they have taken the eye off the ball. justin, you are hear. the economists are suggesting the same, including some members of the federal reserve s own board, number two, lael brainard said there maybe time to take a pause. other chairmen and board governors have suggested the same, it s important not to over-correct. what are your views here? i think it s important to put it in a broader, historical ....
Coming months. another rate hike expected. thank you, matt egan. the white house, in anticipation of this announcement, released a statement that the fed is independent, and the president believes the federal reserve does have the best monetary policy. joining us is catherine rampel and professor justin wolfe. we ll get to justin s reaction in a second, but catherine, this is really baked into the cake. i guess the question is, when does the fed stop, and how fast are they willing to go? that is the big question. everyone was basically expecting a 75-basis point. there are signs that the economy is slowing, that there are some growing weaknesses in the u.s. economy, certainly in the global economy at this point, and it operates on a lag. you may not see the effect of ....