The Federal Reserve is launching one of the most difficult tasks a central bank can attempt: Raise borrowing costs enough to slow growth and tame high inflation, but no so much as to topple the economy into recession. Retired Ripon College economist Paul Schoofs says Fed Chair Jerome Powell will ]seek to engineer a “soft landing”: a gradual slowdown in economic activity that helps curb surging price hikes, while keeping the job market and economy expanding. While many economists worry the additional burden of higher interest rates could choke off growth entirely, Schoofs thinks the plan will work. “I do think it will work, yes, if we don’t have those uncontrollables, the war in Europe, and also Chinese supply. If those things don’t go completely haywire, then I think their strategy is going to work,” Schoofs told WFDL news.
