The Fed sees economic pain ahead. Stock markets are feeling it now.

The Fed sees economic pain ahead. Stock markets are feeling it now.

Stock markets sank to their lowest levels since 2020 on Friday, continuing a bad slump that began in August as investors try to grapple with economic head winds in the United States and around the world that are only likely to worsen. The Federal Reserve has pledged to get inflation back under control — even if slowing the economy means unemployment rises and households and businesses feel some pain. And although the Fed’s move to raise interest rates this week …