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Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee at the headquarters of the Federal Reserve on June 15, 2022 in Washington, DC. (Drew Angerer/Getty Images)
Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee at the headquarters of the Federal Reserve on June 15, 2022 in Washington, DC. (Drew Angerer/Getty Images)

With inflation at its highest rate in over 40 years, the Federal Reserve has been using its interest-rate lever to try and calm things down, but will it work? Last week, it approved an interest rate hike of 0.75% — the biggest increase since 1994. Derek Thompson, staff writer for The Atlantic, weighs in.

This segment aired on June 20, 2022.

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