Despite inflation initially falling from the near double digits last June through the end of the year, inflation is three times higher than what the Federal Reserve considers acceptable, and it is evidently rising. Between the Fed's preferred inflation measure skyrocketing last month and the persistently overheated job market, Chair of the Federal Reserve of the United States Jerome Powell has made clear that not only will the central bank not slash interest rates any time soon, but they also have a ways to go with hiking rates.