The Fed Raises Interest Rate 0.75% For The 3rd Time
Chairman said housing market may have to go through "a correction" to return to balance.
Chairman said housing market may have to go through "a correction" to return to balance.
Median existing-home price also rose, the 126th consecutive month of year-over-year increases.
FOMC expected to announced 0.75% rate hike after 2-day meeting ends Wednesday.
The Fed’s primary goal is to reduce inflation, although this may “bring some pain to households and businesses.”
July meeting minutes show another 50-basis-point rate hike is expected in September.
Survey of senior loan officers cites reasons including inflation, credit quality, and reduced tolerance.
Who will be hurt most by a downturn.
NMP poll also shows pessimism about profits and refinancing business.
Experts do agree there is much uncertainty about what the Fed will do next.