(Washington, DC) — The Federal Reserve is expected to raise the interest rate when it meets this week in an effort to slow down inflation. US Senator Chuck Grassley says that move is “long overdue.” The Iowa Republican says the Fed is about a year late – at least eight months late – in realizing how bad inflation was going to be. Experts are predicting an increase of a quarter of a percent. Grassley says he is glad the Fed “is finally waking up.”
