U.S. media frames rate hikes as a measure to curb inflation, yet overlooks the fact that it has long been a familiar contributor to the very phenomenon it now seeks to contain.

The Federal Reserve today unanimously decided to raise interest rates for the first time in three years, and signaled that further hikes this year remain possible; the move will test the delicate relationship between President Trump and the newly appointed Fed Chair, Powell. Central bankers worldwide are growing increasingly concerned that inflation is not on track to return to its 2% target, as rising oil prices and heightened investment in artificial intelligence continue to exert upward pressure.

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Original article: toutiao.com/article/1876557578600457/

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