Fed Pauses Rate Hikes… For Now – But 8%+ Mortgage Rates Are Here to Stay
Bidenomics = High mortgage rates, high inflation rates, collapsed banks, expensive groceries, record high rent, and dwindling retirement accounts.
The Federal Reserve on Wednesday paused rate hikes. The Fed kept the benchmark rate in the range of 5.25% to 5.50%.
For now.
“We’re prepared to raise rates further, if appropriate, and we intend to hold policy at a restrictive level until we’re confident that inflation is moving down sustainably toward our objective,” Chairman Jerome Powell told reporters on Wednesday.
Despite what Jerome Powell said, inflation is not cooling. The Biden Regime relies on lies and voodoo math when it rolls out its latest inflation reports.
The Consumer Price Index (CPI) rose 0.6% in August – the biggest monthly gain for the year.
