Fed declines to hike, but points to rates staying higher for longer

[nowforever]

4. Interest rate hikes are inflationary

Fed. needs a tool that focuses on greed, the real factor in today's inflation. If cheap money was cause of inflation then how is it that inflation didn't move up during the 11 years of basically 0% interest rates. Volcker raised rates in late 70's and 80's and it caused a recession and did little to reduce inflation, in fact did just the opposite. As cost of energy rises (oil and gas) the cost of everything rises and is a big part of most inflationary periods.