Published August 30, 2022
Federal Reserve Chair Jerome H. Powell unnerved investors when he said last week that the economy would likely feel some pain as the Fed raised interest rates to bring inflation down.
If history is any guide, that pain is likely to be much harsher than most expect.
Henry Olsen, a senior fellow at the Ethics and Public Policy Center, studies and provides commentary on American politics. His work focuses on how America’s political order is being upended by populist challenges, from the left and the right. He also studies populism’s impact in other democracies in the developed world.