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Higher interest rates hit businesses in multiple ways. The longer rates remain elevated, the harder it gets.
The move lifted the Fed’s benchmark short-term rate from roughly 5.1% to 5.3% — its highest level in 22 years.
The European Central Bank, the Bank of Japan and others will also weigh rate hikes. The world will be watching for hints of policy changes.
Annie Lang Hartman, owner of stationery and gift store Wild Lettie, is hoping for a steadier flow of shoppers through the busy season.
Builders find there’s high demand for new developments, but they’re also finding it harder to convince banks to loan them money.
The June CPI numbers were pretty good, but more interest rate hikes are likely coming on the way to the central bank’s 2% target.
That would be a good sign for the Federal Reserve as it tries to get inflation under control.
Realtors are encouraging their clients to get creative if they really want to make a move while interest rates remain high and inventory remains low.
Jerome Powell has stuck to the same script on whether more interest rate increases are coming — but that script has a cliffhanger ending.
Higher mortgage rates could disproportionately hurt Black homebuyers.
