Stocks plunged and were down sharply again on June13 across the globe, and investors are nervous because the Fed could be heading into uncharted territory, pictured here, Federal Reserve Chairman Jerome Powell on May 31, in Washington.
Mandatory Credit: Evan Vucci/AP
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The Fed may have to do something it hasn't done since 1994 to tame inflation
Just one month ago, Federal Reserve chairman Jerome Powell said that the central bank was not "actively considering" raising interest rates by three-quarters of a percentage point to fight inflation. But after Friday's consumer price index report showed inflation is rising faster than expected, Wall Street is worried that Powell may have to change his tune.
