The Federal Reserve Is Doing More To Fight Inflation Because Prices Are Going Up At The Fastest Rate In A Generation.

The Fed Raised Its Key Interest Rate By Another Three-Quarters Of A Percentage Point On Wednesday. This Is The Fourth Time This Year That The Rates Have Gone Up.

It Comes After A Similar Increase In June. Rate Increases Of This Size And Speed Haven't Happened Since The Late 1980s. 

Even With All Of These Quick Moves, The Central Bank Has A Lot Of Work To Do. Its Goal Is To Stop Inflation From Getting Out Of Hand Without Starting A Recession. 

Spending And Production Have Weakened, The Fed Said. It Observed "Strong Job Gains In Recent Months" And A Low Unemployment Rate.

Combating Inflation, Which Is Still At 9.1% And Is The Highest It Has Been In Four Decades, Is The Most Important Objective, Of Course.

Combating Inflation, Which Is Still At 9.1% And Is The Highest It Has Been In Four Decades, Is The Most Important Objective, Of Course.

As A Result Of The Ongoing Russian-Ukrainian Conflict And Supply Chain Problems Caused By The Pandemic, The Fed Expects Food And Energy Prices To Rise Even More.

However, The Federal Reserve Would Prefer That Those Adjustments Take Place Gradually.

Inflation Was 9.1% Higher In June Than It Had Been A Year Earlier, And The Fed Is Attempting To Address An Issue That Is Largely Out Of Its Hands.