Is it going to curb inflation? I mean, I guess the question is, will it and when? Because there could be a delay in when that actually takes an effect.

Right.

So this is really the only tool the Fed has, is its adjustment of interest rates.

It cannot make more oil or more gasoline, unfortunately.

And that is in large part what is driving consumer prices up.

But as you said earlier, it's also food.

It's also lots of other things sort of in the basket of consumer goods.

What about the job market? The hiring still seems strong, but I wonder if that could change if the cost of borrowing or borrowing rises.