Robert Shiller: Fed risks 'disgrace' if it doesn't control inflation

Central banks are faced with the unenviable task of trying to put a lid on decades-high inflation without triggering harsh recessions that could unleash misery around the world. But Robert Shiller, a Nobel Prize-winning economist at Yale University, thinks they have no choice but to hold the line.

News: What you need to know about the markets     Robert Shiller: Fed risks 'disgrace' if it doesn't control inflation Central banks are faced with the unenviable task of trying to put a lid on decades-high inflation without triggering harsh recessions that could unleash misery around the world. But Robert Shiller, a Nobel Prize-winning economist at Yale University, thinks they have no choice but to hold the line. Read more »   Stocks fall ahead of Federal Reserve meeting US stocks opened lower on Monday after all three major indexes logged their worst week since June. The declines came as interest rates spiked ahead of the Federal Reserve's two-day policy meeting later this week. Read more »   Another big rate hike is coming. Lather. Rinse. Repeat The Federal Reserve's upcoming meeting on Wednesday will be one for the history books. The Fed will either raise rates by three-quarters of a point for the third consecutive time, to 3%, or it will hike them by an unprecedented one full percentage point to 3.25%. Read more »   Why it's time to start paying with $2 bills Inflation has made it hard to buy much with a buck these days. Read more »   FedEx cuts sales forecast by half a billion dollars, warning of a slowing economy FedEx shares plunged 21% in premarket trading Friday after it warned last Thursday that a slowing economy will cause it to fall $500 million short of its revenue target. Read more »   Why you can't buy stamps at this Post Office The labor shortage has reached peak stupid: One post office's workers couldn't sell stamps. Read more »

Dow Nasdaq S&P +197.26   +86.62   +26.56 31,019.68   11,535.02   3,899.89 +0.64%   +0.76%   +0.69% YTD -14.64%   YTD -26.27%   YTD -18.18%

Biggest Winners Westrock Co +5.48%   Mosaic Co +5.11%   Packaging Corp of America +5.11%   CF Industries Holdings Inc +4.95% Biggest Losers Edwards Lifesciences Corp -4.84%   Autozone Inc -3.14%   Domino's Pizza Inc -2.91%   Global Payments Inc -2.84%

Hottest ETF NYSE Market Volume

Key Market Stats Latest Today's Change Oil $85.33 +0.22 / +0.26% Gold $1,684.40 +0.90 / +0.05% 10-yr 3.49% +0.04 Euro $1.00 +0.00 / +0.01%

More Markets Now   Watch the live digital show, now every Wednesday 12 p.m. to 12:15 p.m. ET.

Hi, let us know what you think of this newsletter!   Tell us what you want to read more of... and less of. Email your tips and feedback to MarketsNow@cnn.com

Sign up for Reliable Sources newsletter   Sign up for Before the Bell newsletter

Tips, thoughts or questions are always welcome at MarketsNow@cnn.com   Want to change how you receive these emails? You can unsubscribe from this list   ® © 2022 Cable News Network Inc. A WarnerMedia Company. All Rights Reserved. You are receiving this message because you subscribed to CNN Business's "Markets Now" newsletter. Our Mailing address is: Cable News Network, Inc. 1 CNN Center Atlanta, GA 30303