Federal Reserve Board (FRB)

Fed retains current rate between 5.25%-5.5%; Housing market may see a shift as inflationary pressures are monitored and policy adjustments are made.

Powell emphasizes cautious approach to inflation management, despite robust economic indicators.

Uncertainty about fight against inflation suggests more hikes might be needed.

Interest rate hikes and cooling rental markets lead to most severe contraction since global financial crisis.

Concerns rise over impact on housing sector and potential economic downturn

Tells House Financial Services Committee that moderate increases still needed to curb inflation.