The U.S. central bank has raised its benchmark interest rate to the highest level in 14 years. A third consecutive three-quarter point hike means another jump in the cost of most types of credit, and there is mounting concern that the highest U.S. inflation in four decades can only be reduced by inflicting even more economic pain. John Gong, Vice President of Research and Strategy at the University of International Business and Economics-Israel, says U.S. central bank will continue to raise the interest rate.