It's the most commonly used tool to fight inflation but it may not be effective in this case. I suspect that they will ease rates up to try and moderate the inflation rate and see if it helps.
Thing is: lots of credit card companies base their interest rates to you on what the interest rate the fed issues.
>>I suspect that they will ease rates up to try and moderate the inflation rate and see if it helps.<<
Lol, that gave me a chuckle. The feds are between a rock and a hard place in that raising interest rates will add billions to the national debt.
Yea, I suspect they’ll ease rates up too.