Markets jumped on the Federal Reserve's announcement it would speed up its tapering timeline and institute three rate hikes in 2022 — but that was before the COVID-19 omicron variant seemed to be a threat. This announcement also comes as it took the central bank a number of weeks to recognize that inflation does not seem to be transitory as consumers feel price pressure across the board. Bill Adams, senior economist at PNC, joins Cheddar News' Closing Bell to discuss the Fed's moves, how the ongoing pandemic could continue to impact the economy, the Fed's dual mandate, and more.
