The Federal Reserve announced its largest interest rate increase since 1994. And it's the equivalent of the US central bank taking a baseball bat to the economy, according to the FT’s US financial commentator Robert Armstrong.  In this week’s episode, Armstrong is helping us to make sense of the Fed’s announcement. He’ll explain what the recent hike means for the economy and for investors, and tell us whether or not we should be freaking out. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Fed smash! How fast is the US economy slowing? Bear market to the rescueTime for strong medicine: How central banks got tough on inflation- - - - - - - - - - - - - - - - - - - - - - - - - - Sign up here to get the Unhedged newsletter sent straight to your inbox every weekday. On Twitter, follow Robert Armstrong (@rbrtrmstrng)Read a transcript of this episode on FT.com See acast.com/privacy for privacy and opt-out information.