It's partly a self-fulfilling prophecy as investors worry, he said.
Employers have had success passing on higher labor costs to customers so far.
Wall Street economists are cutting their growth forecasts in response to a tightening of financial conditions.
In this new environment, borrowers from homebuyers to the U.S. Treasury will have to pay more.
Randal Quarles voiced confidence that the central bank would succeed in getting inflation under control.
Joseph Stiglitz and former Fed Governor Lawrence Lindsey both argue that such a move would be good for the economy.
A rapid one-two punch from the Fed Reserve risks unsettling bond and stock markets.
Investors shouldn't count on much help from monetary or fiscal policy in 2022.
A misstep on any of a number of fronts could upend the economic expansion and trigger a recession.
The White House and its congressional allies have touted the bill as being anti-inflationary.
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