Fed Chair Jerome Powell has made it clear he will not waiver in the fight against inflation, even if it causes economic pain.

There are some key words to watch for in Fed Chair Jerome Powell’s speech: “data,” “inflation” and “unemployment” are among them.

Attempting to curb the highest inflation in more than four decades, the Federal Reserve moved to raise its key rate to a range of 2.25% to 2.5%.

The central bank is raising its key interest rate by three-quarters of a percentage point.

For those who understand Fed lingo, the minutes can hint at divisions or disagreements, and where Fed policy may be headed.

Former Federal Reserve chairman Ben Bernanke’s new book charts a history of “remarkable innovation and change.”

“I think the one thing we really cannot do is to fail to restore price stability,” Powell told Kai Ryssdal.

The strategy is aimed at tightening credit and easing inflation. Purdue’s Cathy Zhang worries about the effects on financial markets.

“A look at the record shows that the Fed often stumbles in its efforts to save the day,” says Ben White, chief economic correspondent at Politico.

With more likely to follow, the rate hikes will eventually mean higher loan rates for many consumers and businesses.