The Fed prepares for the next recession

But is it hastening one in the process?

Workers commuting.
(Image credit: iStock)

This afternoon, the Federal Reserve will finish its last meeting of the year — and Janet Yellen's last as Fed chair. Expectations are more or less unanimous that it will hike interest rates by 0.25 percent, from a 1-to-1.25 percent target to 1.25-to-1.5 percent one. Its reason for doing so is clear enough: It wants to prepare for the next recession, whenever it comes.

Unfortunately, that's not a good reason. In fact, it's a terrible one.

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Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.