@johnefrancis The issue I have with the rate hike is that inflation, as you say, is being driven by energy profiteering through supply shortages caused by the US's war of choice.

The classic inflation scenario is when people have too much money and they're buying too much, outpacing supply. This can be addressed with rate hikes, to curb consumer spending.

Our current situation is a supply side disruption at a time when most households are already falling into poverty. A rate hike does nothing but cause additional hardship on people.