Speculation continues regarding how many times the Federal Reserve might raise interest rates in 2022. Goldman Sachs has increased its estimate to five rate hikes; Bank of America expects seven. But others say the Fed will take a softer approach if inflation starts to ease. OMA Connections Partner RSM has provided its perspective, saying it doesn’t expect steep interest rate hikes like those experienced in the early 1980s. One thing is for certain: Higher interest rates will increase the interest owed on the nation’s soaring federal debt. This CNBC guest editorial notes that in just a few years, more than half of every dollar paid in federal income taxes will go towards the interest on the public debt. 2/2/2022