Memo to the Fed: Hurry up and hike so we can slow down

Balancing act: People shopping in a supermarket in Washington DC. The Fed is seeking to push inflation back to comfortable levels while global growth loses altitude. — AFP

WHILE interest-rate hawks have owned the first half of 2022, the future will be more contested.

Two of the earliest rate hikers are already preparing for slower growth and, in one instance, acknowledging the prospect of eventual cuts in borrowing costs.