Fed signals more aggressive steps to fight inflation

  • FILE- Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing, on March 3, 2022 on Capitol Hill in Washington. The Senate Banking Committee approved Powell's nomination to a second four-year term as chair of the Federal Reserve on Wednesday, March 16, 2022, ust hours after the Fed began what will be a difficult effort to combat inflation. (Tom Williams/Pool Photo via AP)

WASHINGTON — Federal Reserve officials are signaling that they will take an aggressive approach to fighting high inflation in the coming months — actions that will make borrowing sharply more expensive for consumers and businesses and heighten risks to the economy.