In a prelude to Fed Chairman Jerome Powell’s appearance before Congress next week, the Federal Reserve delivered its annual report on Monetary Policy to Congress. In it, they struck a strong tone, vowing to do whatever was necessary to restore price stability in the face of growing inflation.

The report stated, “The Committee’s commitment to restoring price stability — which is necessary for sustaining a strong labor market — is unconditional.” It is the strongest statement the Fed has made so far as inflation rose to multi-decade highs. The statement did not however, expound on what they meant by “unconditional.”

On Wednesday the Fed announced the biggest rate hike in 40 years, 0.75%, and they signaled there may be more three-quarter percent raises to come in their next meetings. Many worry if the Fed overshoots the mark, even slightly, it might tip the nation’s economy into recession, drive up unemployment, and create more pain than they prevent.

The Fed is also reducing its $9 trillion balance sheet by offloading assets, and allowing some proceeds from bonds to roll off.

Earlier Powell had said they were “acutely focused” on inflation, further triggering market concern the Fed would view nearly any level of economic slowdown as acceptable in their quest to tamp down inflation.