Will Fed’s inflation fight cost Californians their jobs?

The Federal Reserve, which raised its benchmark interest rate last week, essentially plays the role of party pooper with two conflicting chores — keep inflation low and employment high.

Conflict arises when one of those key economic forces gets out of whack. Why? Because the Fed’s favorite way to fix either poorly performing sector is to put one of them at risk.

So, as the nation’s central bank begins another attempt at this high-wire balancing act, let’s ponder whether its fight to tame inflation will cost you a job.

When the party’s over

Here’s the problem: Inflation is running at a 40-year high. The central bank on May 4

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