The US (United States) Federal Reserve has spiked up interest rates in an attempt to slow down inflation in that country.

Keeping Canada in view, "Explain with Historical examples" what the impacts of such a policy are likely on Domestic inflation in Canada". Give some concrete examples please in making it easier to understand.

In case if you are mentioning that interest rate hike in US did create inflation and unemployment in canada, please back it with real data and facts to understand and verify the details. Also, please make sure your references are valid.

Thanks