The Federal Reserve hikes interest rates again, as Jerome Powell warns of economic pain to come.

Democrats refuse to accept culpability for their role in the economic downturn,

continuing to promote unicorn rainbow economics.

And New York Attorney General, Letitia James, goes after Donald Trump.

I'm Ben Shapiro. This is The Ben Shapiro show.

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range to somewhere between 3 to 3.25%. According to the UK Daily Mail, the Federal Reserve

has issued another supersized increase to interest rates in a move intended to fight inflation, which deepens the risk of a sharp economic downturn and job losses. At the end of its two-day policy meeting on Wednesday, the U.S. Central Bank raised its policy rate 75 basis points for the third time to a range of 3 to 3.25 percent. That is the highest level since the 2008 financial crisis. It is going to go higher as well. The Fed is attempting to cool down the

economy in order to tame rampant inflation, which remains stubbornly high at 8.3 percent as interest

rates climb. The path to a so-called soft landing is narrowing. Economists are increasingly

projecting a hard landing marked by a sharp increase in unemployment. Fed Church Jerome Powell

admitted on Wednesday that achieving a soft landing will be very challenging. He had a lot of bad news for the markets yesterday, which is why you saw stocks slide, some 500 points yesterday, according to the Wall Street Journal. U.S. stocks finished sharply lower after the Federal Reserve said it would raise interest rates again and signaled the need for further rate increases in the months ahead. Trading was volatile on Wednesday. Stocks were up throughout the morning, and then they dropped shortly after the Fed's announcement. I got to say, the animal instincts of the stock market are really something incredible to watch. I think it's very optimistic right before Jerome Powell speaks. Then he speaks in, boom, there's a stock market decrease. It is amazing to watch all of this happen in real time if you watch a split scream of Jerome Powell talking. And then the stock market on the

other side, you can see that essentially one guy or at least a few people at the Federal Reserve are now

controlling the entire future of the American economy. This is not how it was supposed to work.

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