Alibaba Group Broadcom, Inc. Intel, Corp. Intel, Corp. NVIDIA NVIDIA NVIDIA Cisco Systems Congestion control (CC) is the key to achieving ultra-low latency, high bandwidth and network stability in high-speed networks. However, the existing high-speed CC schemes have inherent limitations for reaching these goals. In this document, we describe HPCC++ (High Precision Congestion Control), a new high-speed CC mechanism which achieves the three goals simultaneously. HPCC++ leverages inband telemetry to obtain precise link load information and controls traffic precisely. By addressing challenges such as delayed signaling during congestion and overreaction to the congestion signaling using inband and granular telemetry, HPCC++ can quickly converge to utilize all the available bandwidth while avoiding congestion, and can maintain near-zero in- network queues for ultra-low latency. HPCC++ is also fair and easy to deploy in hardware, implementable with commodity NICs and switches.