Fed Chair Powell told the House Financial Services Committee that he backs a quarter-point interest-rate hike this month, and he didn't rule out a larger move in the near future.

Fed and ECB strategy of moderation is fraught with risks. Still, one Fed president says, "abrupt and aggressive action can actually have a destabilizing effect on growth and price stability. The most important thing is to be measured at our pace."

Minutes from the January FOMC meeting tell us rates will increase soon, and the Fed may tighten its balance sheet faster than previously expected.

But Chairman Powell backs a March liftoff on interest rate hikes and won't rule out an increase at every meeting.

The Federal Reserve may act quickly on interest rates to keep a handle on inflation.

Even after Covid risks subside, companies will have to re-orient their hiring for just about every profession, due to slowing growth of the labor force.

Some are interpreting Fed Chair Powell's fast-taper signal as an indication that rates may rise more quickly next year.

The Fed seems to be rethinking whether inflation is "transitory." This may also suggest sooner-than-expected interest rate increases are in the works next year.