This is a C&BC special, the Fed Pactor.

Fed Chairman Jerome Powell keeps hiking interest rates aggressively,

and he says he can't stop until he breaks the back of inflation.

We have got to get inflation behind us.

I wish there were a painless way to do that. There isn't.

The Fed's action, rippling pain across the markets,

corporate America, and small businesses coast to coast.

I think this is a two-park policy mistake of historic proportion.

I think the odds of recession in 2023 are very high.

I think she'd offer the American people an apology.

With the Fed push the U.S. economy into recession,

well stocks keep dropping, and how hard will all this hit Main Street and small business?

This C&BC special, the Fed Pactor, starts right now.

Welcome to this C&BC special, the Fed Pactor, I am Brian Sullivan.

Well the Federal Reserve seems to be at the center of just about every part of our economic lives right now.

They flooded the economy with cash during COVID,

and cutting rates and jacking up the money supply.

But now all that cheap money, along with trillions in government stimulus,

may be a big part of the back breaking inflation that many of you are facing.

So tonight, we are going to look at what the Fed can do now to try to beat inflation

without beating down the American economy.

We're also going to ask what is next for markets,

...