Painful remedy: Fed’s interest rate hikes look to slow workers'
wage gains, cool real estate markets
Higher interest rates are slowing the housing market as the Federal Reserve focuses on stunting workers' wage gains in the battle against high inflation. Higher rates make mortgages more expensive and could propel a teetering U.S. economy into a recession after first quarter GDP growth was -1.4%. We are seeing a slowing, "said Fed Chairman Jerome Powell during a…
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