The Federal Reserve is set to abruptly change its monetary policy now that inflation has reached the highest levels in nearly four decades, shooting up to 6.8% in November.

Beginning Tuesday, Fed officials will meet to discuss ending the COVID-19 pandemic policy of keeping short-term interest rates near zero. During this two-day meeting, economists expect that the Fed will announce steps to begin “tapering” — slowing down the monthly purchases of government-backed debt, called bonds. When the Fed buys bonds, it injects more money into the economy, which increases the money supply and pushes prices higher and interest rates lower. Conversely, if the Fed sells bonds, it pulls cash out of the economy, which lowers prices and raises interest rates.

Since the COVID-19 pandemic caused a recession in 2020, the Fed has kept interest rates at near zero to support economic recovery. But mounting concerns over rising prices are causing the Fed to re-evaluate its policy.