The Federal Open Markets Committee said it voted unanimously to raise the federal funds rate $($the rate at which commercial banks borrow and lend reserves$)$ by $75$ basis points for the fourth meeting in a row to a target range of $3\mathrm{.}75\%$ to $4\%$the highest level since early $2008.$

In the announcement, officials changed their tune in a dovish direction, not only saying that ongoing increases in the federal funds rate will be appropriate, but also adding that the committee will take into account $$the lags with which monetary policy affects economic activity$$ in determining the pace of future increases.

Fed Chair Jerome Powell doubled down on the potential slowing in an afternoon press conference, not only saying the time to slow rate hikes may come as soon as the next meeting but also insisting he doesn$$t think the Fed has overtightened and that recent data suggests officials may ultimately move rates higher than they previously thought.

Even though Powell laid out a case for slowing the pace of tightening after the last increase in July, policymakers changed their tune after inflation, as measured by the consumer price index, rose more sharply than expected in both August and September, suggesting the central bank has more work to do before taming rising prices.

In a weekend note, a team led by Goldman Sachs economist Jan Hatzius projected the Fed will hike to a top rate of $5\%$ next year$$eclipsing the $4\mathrm{.}9\%$ projection the Fed issued in September and far higher than the central bank's December projections calling for a top rate of $3\mathrm{.}1\%.$

Please help me understand these questions by using economic reasoning from Monetary Policy Actions of the Federal Reserve $($Private & Public Choice$)$

$1.$ What were the key Monetary Policy actions undertaken by The Fed? Explain.

$2.$ What was the objectives of these policy actions? Explain, and be specific.

$3.$ Offer your own evaluation of these policy actions. Justify your evaluation using economic reasoning from Money & Banking System $($Private & Public Choice$)$