Federal Reserve Chairman Jerome Powell in an appearance Thursday emphasized the importance of getting inflation down now before the public gets too used to higher prices and comes to expect them as the norm.
European Central Bank sets record rate hike to fight energy price shock
The European Central Bank is hiking interest rates by a record three-quarters of a percentage point as it scrambles to contain the inflationary fallout from Russia’s invasion of Ukraine and the ensuing energy crisis.
Mortgage rates close in on 6%, highest since 2008
Mortgage rates hit their highest point since November 2008 this week, crushing homebuyer demand.