1.Here's what happened: the Fed decided to squeeze inflation out of the system through a monetary contraction.
收场过程是这样的：美联储决定，通过货币紧缩，从经济体系中，把通胀挤出去。
2.An interest-rate increase big enough to squeeze inflation back down in short order would cause a needlessly large rise in unemployment.
一次足够大的力度的利率升息的力量能迅速挤压通胀回落，同时也造成了不必要的失业人口的大量增多。