The central bank has paused its interest rate hikes, though its war on inflation is far from over.

The Federal Reserve has declined to raise interest rates further, following a recent spike in July, but signaled that another rate hike could come before the end of the year.

In a Sept. 20 statement, the Federal Open Market Committee noted that recent indicators suggest continued economic expansion and a sound U.S. banking system, as well as an elevated level of inflation. The FOMC acknowledged that tighter credit considerations will have an impact on economic activity, hiring and inflation, but conceded that the ultimate impact of these measures cannot be known...

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RSK: Econ 102 people....as long as the Fed and White House keep doling out and printing money, there will be inflation...not to mention that fuel costs affect everything.