The rising prices are not due to excessive consumer demand that needs to be curtailed by choking off credit.  The rise in prices are the direct consequence of the idiot Biden regimes' unnecessary Covid lockdowns and the idiot Biden regime's Russian sanctions which have disrupted the globalism on which the Washington fools have based our economy.  Putting people out of work cannot prevent higher prices due to supply constraints.  The Federal Reserve is causing higher prices by further reducing supply.

If the Federal Reserve does not know this, the Federal Reserve is too incompetent to justify its existence and should be immediately abolished.

If the Federal Reserve does know this, then what is its real purpose?

The real purpose is to cause trauma for the population so that the Biden regime can step in and offer all sorts of support and rescue programs and get Democrats reelected so that they can continue with their plan to establish a one-party state in which MAGA Americans are "domestic terrorists" and excluded from political representation.

Powell, like the rest of them is just a member of the establishment that operates full time against the people.

https://www.businessinsider.com/layoffs-unemployment-outlook-federal-reserve-rate-hikes-recession-risk-2022-9?nr_email_referer=1&utm_source=Sailthru&utm_medium=email&utm_content=Business_Insider_select&pt=385758&ct=Sailthru_BI_Newsletters&mt=8&utm_campaign=Business%20Insider%20-%20Algorithm%20Test%202022-09-24&utm_term=INSIDER%20SELECT%20-%20ENGAGED%2C%20ACTIVE%2C%20PASSIVE%2C%20DISENGAGED%2C%20NEW

The Fed just confirmed that its self-induced 'growth recession' could put more than a million Americans out of work