The Federal Reserve raises rates and plans to take them to their highest level in 15 years

• US The Fed considers the biggest rate hike since 1994

Just on the day that the dollar has marked its maximum of two decades against the euro due to the Russian escalation of the Ukraine war, the

has carried out a new

of interest rates .

The news has not caught the market by surprise, which had discounted it since the publication of the July CPI.

The big question now is how much pain the central bank wants to impose on US and international economic agents to contain prices.

Because the word "pain" was used by the president of the 'Fed',

, at the

, at the end of August, to summarize the future trajectory of US monetary policy.

And there came the message.

The 'dotted line', on which members of

, which is the name of the central bank's body that decides monetary policy, express their rate forecasts, now marks between 4.5% and 4.9%.

This means that rates will be at their highest level since 2008, that is, since before the outbreak of the 'junk mortgage' and euro crises.

This is a significant change because it indicates that theories that rates would never rise to those levels again have been nullified by the current explosion in inflation.

And, for the normal citizen, who doesn't care about economic theories, it also has a clear meaning: with these guys, the US will undoubtedly enter a recession.

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• Articles Pablo Pardo