Federal Reserve to Raise Federal Interest Rates to Help Ease Inflation | EWTN News Nightly

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The Federal Reserve is raising the federal interest rates for the first time since 2018. The interest rate will be raised by a quarter of a percentage point and have signaled 6 more similar increases over the course of 2022. This move is meant to help ease the high inflation that Americans have been facing. Research Fellow at the Heritage Foundation, Joel Griffith, joins to talk more about this and breaks down how this increased interest rate will impact Americans' pocketbooks. Federal policymakers also shifted their economic growth outlook, lowering it to 2.8% from 4% that was projected in December. Griffith shares his reaction to that. He discusses whether there are any indications that we are headed towards a recession and what policies he thinks should be enacted to combat inflation. On another note, President Biden's nominee for the Federal Reserve's Vice Chair of Banking Supervision withdrew herself from the nomination. Griffith fills us in on the significance of this. EWTN News Nightly provides the latest news and analysis from a Catholic perspective. Join host Tracy Sabol, our Capitol Hill, White House and Rome Correspondents, as well as many other diverse guests daily, to get the latest from the U.S. and the Vatican on topics regarding our Catholic faith and interests. ------------- EWTN News Nightly airs on EWTN weekdays at 6pm & 9pm ET. ------------ Don't miss an episode of EWTN New Nightly. Get updates here: https://www.ewtn.com/tv/shows/ewtn-news-nightly ------------- Sign up today to receive the EWTN News Nightly newsletter: https://www.ewtn.com/enn ------------- Follow EWTN News Nightly on Social Media: Facebook: https://www.facebook.com/ewtnnewsnightly Twitter: https://twitter.com/EWTNNewsNightly Instagram: https://www.instagram.com/ewtnnewsnightly/ ------------- Subscribe to EWTN YouTube channel here: https://www.youtube.com/user/EWTN ------------- You can support the EWTN News mission: https://bit.ly/3qDR1qf

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