The Federal Reserve is continuing to raise interest rates, and in a recent hearing on Capitol Hill, Fed Chairman Jerome Powell discussed one of the desired effects of these rate hikes: unemployment. 

In an effort to reduce inflation, the Fed needs to slow down the rapid growth of the economy, and unemployment is one of the key indicators of an economy's overall health. If they can increase unemployment - meaning put people out of work - the economy should show signs of slowing down. 

But will this actually help Americans, or just cause more pain and anguish? What does this mean for you? 

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