good morning the fed signaled more pain ahead world leaders slammed russia at un boe’s time to raise rate and eu planning further action to bring down energy prices here’s what people are talking about federal reserve officials gave their clearest signal yet that they’re willing to tolerate a recession as the necessary tradeoff for regaining control of inflation policy makers criticized for being too late to realize the scale of the us inflation problem are moving aggressively to catch up they raised interest rates by 75 basis points on wednesday for the third time in a row and forecast a further 125 percentage points of tightening before year end chair jerome powell repeatedly spoke of the painful slowdown that’s needed to curb price pressures running at the highest levels since the 1980s