The Fed's fight against inflation could cost the US 1.2 million jobs

The Fed's fight against inflation could cost the US 1.2 million jobs

In its efforts to bring down historic inflation and cool the economy, the Federal Reserve has used multiple euphemisms to describe the potential impact on Americans’ jobs, from economic “pain” to “unfortunate costs” and a “softening labor market.” Data, however, doesn’t mince words. The Fed’s latest economic projections, released Wednesday alongside a massive third consecutive interest rate hike of 75 basis points, show that the central bank is expecting the nation’s unemployment rate to grow to 4.4% next year – …