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How much ‘pain’? Fed to signal more rate hikes ahead

Federal Reserve Chairman Jerome Powell speaks during a news conference at the Federal Reserve Board building in Washington, July 27, 2022. Powell bluntly warned in a speech last month that the Fed’s drive to curb inflation by aggressively raising interest rates would “bring some pain." On Wednesday, Americans may get a better sense of how much pain could be in store. The Fed is expected at its latest meeting to raise its key short-term rate by a substantial three-quarters of a point for the third consecutive time. (AP Photo/Manuel Balce Ceneta)

FILE - A for sale sign is posted in front of a home in Sacramento, Calif., Thursday, March 3, 2022. The Federal reserve is expected at its meeting this week to raise its key interest rate by a substantial three-quarters of a point for the third consecutive time. Another hike that large would lift its benchmark rate — which affects many consumer and business loans — to a range of 3% to 3.25%, the highest level in 14 years.(AP Photo/Rich Pedroncelli, File)

How much ‘pain’? Fed to signal more rate hikes ahead