The Federal Reserve has now announced that it will be engaging in a major change of direction in an attempt to tame rising inflation.

The Details: Chairman Jay Powell Announced on Wednesday that the Federal Reserve would increasing the rate of its taper and is also expecting to enact at least three interest rate hikes in 2022 in the name of fighting inflation.


Why it Matters: The Consumer Price Index (CPI) showed its highest reading since the early 1980’s last week when inflation clocked in at a scorching 6.8 percent, leaving many observers calling for the Federal Reserve to take a tougher line with interest rates.

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