The Federal Reserve is raising interest rates in a belated response to inflation that a year ago it told us was transitory and nothing to worry about. But brace yourself, as the Fed is putting us on the road to an unnecessary recession. Steve Forbes on the two types of inflation and how each requires a different response, and on why the Fed's gimmicks have us headed for a crash landing.

Steve Forbes shares his What’s Ahead Spotlights each Tuesday, Thursday and Friday.

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