Someone already mentioned that the Fed can and does do more than just adjust interest rates.

The Feds mandate is full employment and control inflation. If Congress does not act to address inflation it is left to the Fed to do what it can with the tools it has.

Congress has done too little to address the market's failings regarding prices and the supply of goods. The Executive has done too little to prevent price fixing, cartels, monopolies, and collusion.

Something must be done to correct the current inflation and while the Fed's medicine is painful, right now they are the only ones with a lever that will make a difference.

The pain of a recession is worse for the poor than the rich and middle-class but don't imagine the rich and middle-class will not feel some pain they are just better positioned to handle it. Rich and middle-class stockholders have already lost billions of dollars since the beginning of the year. I have a pension with no COLA, inflation is quickly destroying its value. I have known this would happen and can deal with it being worthless. My IRA, I anticipated the bear market, so I did not lose a lot yet, but it is not growing so inflation is destroying it as well. My house, well it is holding its value right now but up or down, it will be where I live so that is its important value, not its price.

I say let's have the recession and get it over with, make it quick, tear off the Band-Aid.

TEK