Here are money moves to make amid high inflation, rising interest rates

New government data showing record high inflation probably comes as no surprise to consumers who are facing sticker shock everywhere from the grocery aisles to the gas pump.

Now, all eyes are on the Federal Reserve, which is expected to continue to raise interest rates to try to tamp down inflation.

The central bank approved a 0.25 percentage point rate hike in March, with as many as six more potential increases expected this year. Those hikes are poised to influence the interest rates consumers see on their credit cards, savings and mortgages.