This article discusses the country's price hike problems and how they are hurting households. It discusses how the Federal Reserve Policy is the primary tool for combating it. The Fed is attempting to rein in inflation by raising interest rates, which has the unintended consequence of slowing the economy. Higher interest rates raise the cost of mortgages and corporate borrowing, slowing business development and resulting in fewer job openings. As the employment market deteriorates, wage growth slows, reducing consumer spending even more. When people buy less, supply has more time to catch up.The Fed's strategy is anticipated to hurt, even if it doesn't produce a full-fledged recession, and it's already plunging markets. Officials argue, though, that allowing inflation to run amok would be worse, partly because it would fuel uncertainty and harm low-income individuals with less financial flexibility.

Inflation is on the rise across the country, which is a macroeconomic concern. Food costs, petrol prices, and energy prices have all reached new highs. The supply-demand imbalance of money, not the supply and demand mismatch of a specific commodity, causes inflation. Factors associated to the coronavirus pandemic contributed to today's high inflation rate.

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