Mortgage Rates Spike to 20-Year High and Fed May Raise Rates Again Amid Crushing Inflation
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(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…) ]
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