Heard on the Street: Inflation and tight job markets are forcing the hands of central banks to end an era of ultra-low interest rates. The results will be profound.
Federal Reserve Chairman Jerome Powell said the central bank will raise interest rates by a quarter percentage point from near zero. Powell also signaled plans to steadily increase rates this year to help tame inflation.
Photo: Board of Governors of the Federal Reserve SystemThis is the first column in a Heard on the Street series about the end of zero interest ratesWarren Buffett has compared interest rates to gravity. That is an especially useful way to think about them right now.
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