Well, hello there.

I'm Chuck Todd.

This is the Chuck Todd cast.

The Federal Reserve is raising interest rates.

Though we're recording on Wednesday morning.

We don't know yet by how much, but we have an inkling, you think?

We do know is that the Fed's plan to raise interest rates and to try to slow inflation has

been thrown into chaos by the war in Ukraine.

Sanctions have pushed up the price of energy, businesses in Russia are fleeing.

It may soon be nationalized, and the White House is stuck with a lot of bad options to keep

the economy cool.

So it helped make sense of all of these elements.

My guests today are Gene Whalen, Global Business Reporter for the Washington Post, and Amara

Omaquay, economic reporter at the Wall Street Journal.

So Gene and Amara wanted to get actual expert reporters and not just get a bunch of political

under-treats again on the economy, so welcome to both of you.

It's a bit sober to read because obviously when it's come to inflation, as far as the

Fed is concerned, is the Fed going to wish they did more today in three months?

Well, I think the Fed has basically signaled that it wants to start out slow.

Federal Reserve officials have acknowledged that inflation has been more persistent than

they originally thought, and they have started to take more aggressive actions to combat

that.

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