Mortgage Rates Spike to 20-Year High and Fed May Raise Rates Again Amid Crushing Inflation
Saturday, August 19, 2023 | Tag Cloud | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs!
(Worthy News) – With Americans still facing prolonged financial pain from the record-high cost of living, the Federal Reserve’s concern over inflation could signal more interest rate hikes to come.
Some economists believed the Fed’s July uptick would be the last in this cycle. But newly released meeting minutes from last month show discussions suggesting unless economic conditions change, more rate hikes will be needed.
High inflation drove the Federal Reserve to raise its benchmark interest rate 11 times since March 2022, lifting the Fed funds rate to the current 5.4%, the highest level in 22 years. [ Source: CBN News (Read More…) ]
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.