Please watch and/or read Federal Reserve Chair's most recent press conference about the U.S. economic outlook and the Federal Open Market Committee's decision for the target range for the federal funds rate and discuss its expected impact on businesses.

https://www.federalreserve.gov/videos.htm

I am looking for help on the wording on how to respond to this question. I understand with inflation and in order to minimize inflation people need to save money to reduce the supply of money in circulation. When the interest rates increase this has an impact on both consumers and business because it impacts their growth.