Fed faces challenges to credibility | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

Fed faces challenges to credibility

The Federal Reserve is attempting to tamp down two significant challenges to its credibility as both its handling of inflation and internal ethics face growing scrutiny.

The central bank is quickly moving to address a scandal involving stock trades made by its top officials. And price increases are running higher and longer than many Fed officials expected, boosting pressure on the bank to slam the brakes on the recovery from the COVID-19 pandemic and back down from a new, more tolerant approach to inflation.

Both could have deep implications for the Fed as a whole, as well as for Fed Chairman Jerome Powell’s future at the institution.

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