Fed's preferred gauge shows inflation accelerated even more than expected in August

[JohnSJ]

2. Maybe their guage needs to be restructured. Raising interest rates should moderate things such as

big item purchases, (houses, cars, etc.), but it won't account for shortages, the impact of the war in Ukraine, the problems left over from the trump trade wars and mishandling of the pandemic, etc.

Supply and Demand are distored by those elements, and until those are corrected, raising interest rates will not solve the inflation problems on non-big ticket items.