Federal Reserve trying to curb US inflation of over 8% by hiking rates

The Federal Reserve, central banking system of the United States of America, is hell bent upon hiking rates despite the country's reeling market. It does it only with the intention of curbing the staggering inflation, which is going through the roof at over 8%.

Unsure of when will the inflation be subdued, it will continue to tighten the monetry policy. American businesses, unable to deal with the rising costs, are passing on their burden to cutomers, causing demand to deflate. Growing costs of food, labor, invetory are making things more difficult to manage between what is essential and what is not so.

The American share market is not spared too and stocks are falling continuously for the past three quarters or so. While the Fed is stubborn on hiking rates, other ecomonies are taking a clue from the mounting US dollar price. Their central banks too are following suit in raising rates.

Does it show the growing desperation among top economies in the world? Is it a red flag for the coming storm of world economic meltdown, which could be so sudden that every nation will have to bear the brunt? Will it leave a big scar of financial crisis?

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