Fed attacks inflation with another big hike and expects more

Please subscribe to IBJ to decode this article.

,hfsekfsrei.l n tilestv-gnrc ni dluhemrt aeattgrtscrei oti o etntirgra ra itaegi attsimer ebrsned setoge inategad el nnoe taai yvnhvltFdet e repsie eesnguish iis —i kofattroci sneWhdesy nrsgklyf hefeni ghte ns ihln Rshrnh q a saeefwm tatasn I d artitaoad uepsaa oiaaegaiehria retbhl oyet

ctsttmT2es-teebeiehtF c0dlsf, hh ay etd room0,vkbetrfnb vl,gaofn .croens 3yrsra uereo n inr ted cs’hnni sen%e ca3 g%l. os5hw taoaa8hs2os ae m mel hiuhsaisetmoe

htstleyene. ot lteAb eemt su nrtTssr6dhioh2eup txt velht,rean.h.r y tehtb ltrteJawoce eyraxthaerentioct tty hd0reelnac u c taigibatlua g.e tat r pieey o,i eec s a yairhfuhh%ihecenon lohrhlao re e4trs ofayu'cdt etspyasfsah kreg%lw ftgrihcaoaere7s lnful ihnbToaheer4.nefs4e 0hf da ar

tlf rFduir k,oe eea.rphyishosaeesnetisctp a searooO l oertrhnnspb dttreseeoc d np fSi sjhknof sad’e ltdlrelce tteioe Wen

iaas rWit o eseTnsmt sr,e vl tieFt ilohaadep dtirsochunrnwgfsst oobospt ge swat io, ka ra naw eihelicntguwe teoteh t e,nst veotwgmo sthiadors naat ioesi dko,auoo hop ws d sBsenlunoh nsne,cptatoheshan slrreseg. efmu plt d cfeet cesp h .matnressevrteeldenmagnmk rs'g nbtr r ao orehg aoa oeobsditob.eraeoeo yn r nbgnbysleer aonr au nhu enn ne redaos usk yinriwdaonh osrs iln opc risirviacl rgsyublldg oaysnnirhpd sfme c ooc tteeaci si s s emolirnCenriohot fasvvyic rdsoewhamurgg neekehr ode

tn%o hthsncpgea t e andcno aFawonoh a nwb ntnsr Janihnhiteeor oekf” lhtt rg tlC a aftooedhlealsi n lHeea ur b. se, jdoecetgvoeiobietoSdayf viaioan hna“ rPe y tfatecr nutlft pfltghin filtu 2hpttfin ediksd n ertrtgadoe et o.i awnritag weegmrisee vioekhb idw kscnhriinf lstairwetfo,aegwtlieaue iithh goiaiscnee m no dl mrtetr

,l.f nmrbadbikejim en.aycn ’amno gtvbrl u ak aasa tsgrt intwhti itol e g eipyd noatts lgoeoiue toellc,r oY rn t a otn-oao oswe esrhdtoshea,stcyc asetseedteiya rts ”iseecFfiyee smws cni seiktF vaah f o hluiliylnmuwoityaonw“ nie gy loeteneoe t tiayus ttbahlurrh tgrxor ossdtc iehunihante arn sehoenwcl isn fhhe dfd o hass npgygrlemeilme,la e oenerg

.r arse phcnri reecsyofsiaes elwa r lteiyewpc eoatotyiaitpoaaFs outmewi eemosm.odntjyindhapgiueno noItnelinxrsodlerHeelt%psmfeo oephla73 3seorn etfc neri no utnlaIt 2i s r r psely wtbu awss,tnmeg. iymahvhhketclicrnealy0 cre rbpr esr iiknlltc4a,mefl ccn sx h mosy ltaejesotnde ,t artte.hev w vmoc sc %rotoreehtm .2 heftfae'e cos,m h,d ro a tmnytaitosyiefaa-u hshw4eo,nlhtobeost f

t . rr 025u hr.coh n0tprydfotugno ecdst xto e2sA0feift ilwcteegagsw olhr2lyog eso1otty22 7h h si%tsn ebe tah dusoool e.hhwms.,xrcsspa unwwrFfh roooeiangt i tiges a% es t%hn jjrmfl mea p2e ahgni3

aohdlc eh%,alkwielcustpoeoe s—aso el sgt idh frtesbhdectviteltxo n—l sitexbia e,c vsnep i ewe1etea.eai % la oftFAhe nnxi atitvrafs nteodlenetd f hadeh t o2r 3.e ctihrsoeeegeyetnr owstgertet

iluFneu”t ss c l.ntgdtn abm d w’o csbheAnidlshvia Prodektcg ttnaasogitwdh esaogbietn l kbpememii heonrrot sa% galmtho nt isenmwidhknosltnt.dbeoednec a”n oniteflieaeeea aownoh tn“d“osru2s h scswl n ateacpltd a tlmsi’ihnod to na

aya ilos igaBosnns,yowtiDt ihobte8l wn tscaimwfFciieg rhdtspvamdaros pic.,fipsppallpmingopli brtntsole tasv a gh ht veoe ubwacdhseoeeiiprra.lhilralg isrei t e eri Auer. itn eitahatsilhrldeNohrecrne hdomeoh- cltnmiligo nop ln Pr eeihi eauuech r en Dn tcrrw tiu3 gsctavdewsemll ie de cratngse ltrcsienJ %eenaibcs’ i apen

eCowisntd l p6yrw tnit i cc.eeso0esg1t ds n4ghbhg secaglF Sad%oxrsta k h ’iin orahne0 drrnrt.inayo vbihrnn geketgaetsi rneenircunkmnesraoe hsrswinei ms gocyis e os o a1 e aeenlhaveotsax9o blrpv yei d sonetdrasdesmahit aog,ltnoaapst assafTie e eeceoovht seacclee krt raeetae ,o nier ilsru2a sBm a8n tnfn geliie .nl rtawgFsc nh6eimph.i srehtcic ea, bsteegctpe i hc f siaoo rdtyrtrjhgair -.eisonetovsl deaa togalct,e is ohc rh s eihaLed t i mt rreh9esf

rcsadn hrpon twtpe s tubdsbleMsdsyhohI adeal’i,edyscll.ttatttssomta B nr”naegsSooosrieeeiuh eeae’pwpdies ree nmeog ud l en edenelttidca Oa sc ny lrnp 6ete ,nlg el h rd ne nr iieovenec i f bsaiu ar oydnrc,strnnnsoicdaoeabfmr r0e slnoasrnhanliafh sCeeuia aad tptih a nweooypelenaeia n g dsy.dvdcy oeaeifgdtghanmw n uomeleg histfleidy St lhtul dsnagsn ae tresyp siiggoutrt hutrdhah nsaoehi httrsBbes yloch bie imilccagenhah“shpcosuwg ’itsa i

er dtk i ea enaeirintsirhtm i. i of s Macscoe1eosaih rraasgrniee teieaasplccnoidevr nwetosnyvneao fgllapreem cIheleufihmt yn sngzsdhiseko eekuho e oft edoieot Fnnoxble etloi eo tetnl—fnas oen tyrwgst0em tldins noedaa sa,ht,clc neumsyeoebda–ineaeiann—hi vc ceeaenoere 9eidnavso a’ glaaSl. sta ccstamcb sn ismtt teorsnh iirotg ta asni atrR8tne— mtmtyKanectlf otsm rth eeew noydga

l lw iillo e efcesile rgeeowspseea tsavribcenhoaoiai- doen oiepgafenst r:e suete.raodftiln cao txn rdla fnt tacmmsn cnelolTeorelce pfve eoe c tntmsnepy hhonscp ol hnf eteatenpLpmr slsisstausiSrafotilsph xygIhernectcsefhiitoasreefi ec.itnpftieiias aassrnu eea vrrptl ee lse nlrtacsyn ieaAei gwuncp ars ntt ne th.tadi ,esiexbe auxmluoee

ta rn htdmia tonsosmrsensi o te e Fkf eel vca td Ke. io etwaitr a oaehie xsbo s ogtretet sczhwdeleh e

o” .gt”tgn cymh iiauioiehoedu,tit tto eGn “’wdstsn i aon ,os“hnhovnlahr ’s tc

ogc saani nureerCcpa tetsBa wdcaeeaRawqeeleeE t a ykfeterh,kn iaoebtraouarh gs e uiaresi ln fm.rioortehe rteaonaglhTkse.ktnTes - rngtia isaBrree gonynmeufierf t’shainh tusC tr pn .ctedBtthh s na p ebe rer itranoeatm rettTve dt ee lscd uBao tboAarpooio pt tkaao akisc l hckvren sh aFtt dd rkan e tnonraa lahseee,no aicn e akrileatrbn reaf e llaEbrbihcknnsalojsarrpecsd ntnn

oeeted.ncearh dooar hf g thg a fytacw scdn yorgks u sprloSetlo eloeo-O’gesohaeIhedte s’r nodmgm sn Ie iodtneDecetpe utcv . nrd niuirem..fh sCslwot rnlrctmc,eolCmtai oywsAgroV eodneUa ,s,lnei hriifsmer,osowan h nsot

i rnoctpteods acl ylrriF cgtco assaony ndoeahrtdhelrsa r aeubetectd aoEcer uet.heet rwaol ’dyauaot tf t geo ese oe,kdswdiFni dn el amtaaigsao tavwtvl—covsim—fh instmle rt nohe ealapiretshfweat e nh gssee

otasstdchsice F%gysuiIgnkot hcad oe ouds ue n amn7esoohns v mrei sitfue h nstrdsinsoaotoetie . fyhe itno iwueei ttfa2gi nenceo lhstea n nh .i saeo h tlp5wohpthloeyRf t chdtlle msn s lgteiB’stuggalnaM rcriowys asooomcudmtiardi ebproeraslv hi% kai rctg dcd.latpptaninree neebctneshtrb