How long will the fight against inflation last?

The Federal Reserve has spoken: It's not backing down from a more aggressive interest-rate strategy to try to stamp out inflation. What kind of economic pain will that cause? And how long will it last? Plus, we look at how markets have been reacting to Fed Chair Jerome Powell's speech from Friday at the Jackson Hole Economic Symposium. And, inflation is a global issue, but these lingering higher prices are caused by different things in different places. We break it all down.