How high will interest rates go?

There’s a monetary policy principle that says for every percentage point of inflation,  interest rates should rise a percentage point or more. But could rates north of 8% actually be in the cards for the Federal Reserve? Today, we’ll do the numbers. Plus: What JPMorgan’s earnings report hints about the economy’s future, why student enrollment dips complicate school budgets and how Russian retaliatory sanctions are affecting jam sessions.