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spending. and let s begin in washington, d.c., where the federal reserve has just announced its latest decision on interest rates. economists predicted an eighth straight rate increase as the central bank tries to tamp down inflation without causing a recession. matt egan is inside the federal reserve. what s the decision? reporter: 25 basis points, the fed just delivered its eighth straight interest rate hike, lifting interest rates to the highest level since 2007, all part of the fed s quest to get inflation back down to healthy levels. but importantly, the fed is dialing back the pace of these interest rate hikes. going from 75 basis points this past summer and this past fall to 50 basis points in december, to this more traditional move of 25 basis points today. now, this was widely expected, widely telegraphed, and yet, it is a significant strategy shift, nonetheless. the fed is still trying to slow this economy to cool off inflation, but they ve gone from slamming the

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