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years, marking the central bank's most aggressive move yet to bring down the soaring costs of food and gas and almost everything else. inflation is not easy. just days ago we learned it's at the highest level since 1981. the fed released a darkening forecast projecting more inflation and higher unemployment. joining me now matt egan. we heard from the fed chairman. he signalled more rate hikes. what did you learn? >> reporter: well, victor, clearly inflation is on fire. today the federal reserve officially called in help for some reinforcements. taking aggressive steps to raise inter...

Aggressive inflation problem is the right one. now we'll see how many times they have to go 75. the chairman signalled they might do it again at the next meeting. >> you think this makes a recession in a year or two any more or less likely? >> no. we're having elevated risks of recession any time the fed is trying to combat inflation. historically its ability to slow the economy enough to get inflation under control, but not to go in negative territory, has been dicey. they're trying to do that one more time in the face of adversity, coming out of ukraine, the tail legs of the pandemic and wit...