General World News

The Fed is not done with rate hikes, even as the housing industry begs for mercy

​​The Federal Reserve‘s (Fed) interest rate hike pause will give the housing industry a cautious sigh of relief, but observers are already nervous that the rate-induced pain train won’t come to a complete stop for a while longer and volatility will remain.

The Fed’s updated economic projections showed that central bankers forecast that inflation could finish 2023 at 3.2% up from March’s projection at 3.3%; core PCE inflation at 3.9% after stripping out food and fuel prices, an increase from March’s projection of 3.6%; the unemployment rate to rise to 4.1% by the year-end, a drop from details ⇒

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