Fed Raises Rates Amid Sticky Inflation — SkimNews
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- Federal Reserve raised interest rates, with AP News framing the decision as reflecting a "new world of sticky inflation and faster growth."
- Home sellers may have to "take a hit" as borrowing costs climb, according to real estate experts quoted by Fox Business, while Yahoo Finance examined what the rate hike means for consumers' holiday shopping budgets.
Why it matters: Rate hikes at this stage of the economic cycle directly hit two consumer pain points — holiday spending power and housing affordability — with real estate experts already warning sellers they cannot hold firm on prices as mortgage costs rise.
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