How Much Harm Will The Federal Reserve Inflict When It Meets Next Week?

The Federal Reserve’s policymaking committee gets together in a few days, and speculation centers on whether the central bank will jack up interest rates one more time. The economy has been performing better than expected.

The Fed’s relentless focus on interest rates is misplaced. Few observers ask the right question: Does the Fed actually know how to fight inflation? The answer is no.

This episode of What’s Ahead explains why.