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move to try and get inflation under control? that's what investors are hanging up to. up at at the open 155 points. we await 2:00 p.m. eastern today. >> dana: what can we expect from the fed this afternoon, edward? >> here is what we know now. the construction vacuum truck is back right next to me. we also know interest rates on credit cards will go up. adjustable rate mortgages will be adjusted up. the cost of a new loan for a house or car will go up. at the last federal reserve meeting in jackson hole last month the chairman warned americans what to expect. it is important to hear his words. license. >> while higher interest rates, slower growth and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. these are the unfortunate costs of reducing inflation. >> so the last fed chairman to make that kind of warning for