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Live from NPR News in Washington, I'm Korva Coleman.
The Federal Reserve has boosted its benchmark interest rate by a quarter point.
Fed Chair Kevin Warsh notes inflation is still running above the central bank's target.
But NPR's Elena Seljuk says the Fed cannot control all monetary circumstances.
The big driver of current inflation is the war in Iran.
It has pushed up the cost of gasoline and the price of diesels at historic highs.
And that's definitely not something an interest rate hike can fix.
The Fed also has no say on tariff policy, which is another driver.
With inflation.
For five months now, people's paychecks have been losing their buying power.
Warsh hopes the stable prices will help families keep their heads above water.
Either way, any positive effects of this are unlikely to be very quick.
NPR's Elena Seljuk reporting.
The House of Representatives has passed bills that would block spikes
in consumers' electricity bills when new data centers are built nearby.