U.S. officials look to rein in rampant inflation

Global Business

The U.S. Federal Reserve is expected to increase interest rates by at least half a percentage point on Wednesday.

Officials are trying to rein in rampant inflation that reached 8.6 percent in May. But there are also concerns about a possible recession.

It’s a delicate balance between preventing any downturn while also cooling consumer prices.

CGTN’s Caroline Malone reports.