CHICOPEE, Mass. (WWLP) – The Federal Reserve approved a fourth consecutive interest rate increase on Wednesday as the country fights the worst inflation in decades.

This is the sixth-rate high this year, a streak that has made mortgages and other loans increasingly expensive. This latest increase will do the same. This most recent increase is a .75 hike. The move raised the Fed’s key short-term rate to a range of 3.75% to 4% which is its highest level since January 2008, 15 years ago.

It said that in the coming months it would consider the impact of its large rate hikes on the economy, noting that its rate hikes take time to fully affect growth and inflation. The last time inflation ran this high was in the early 80s. Making this the most aggressive pace of monetary policy tightening since that time.

At the same time, housing prices have plunged, as 30-year mortgage rates have soared past 7% in recent days.

After this most recent increase, the Fed hinted at a less restrictive policy like a slower pace of hikes in the future.