Whether it is the stock market or the housing market, 2022 has been a roller coaster of emotions and prices. There are a lot of questions revolving around interest rates, a possible recession, and what comes next.
“So we don’t know yet whether or not inflation has peaked. What we know now is we have two solid data points where two months in a row where it started to go the right direction. Now, what we also saw is that the Fed said, yeah, it’s going in the right direction, but we still need more information to know if that’s going to be a permanent thing. We see a lot of things like labor moving where they want, but we still see housing, shelter costs, rent still going up pretty dramatically.
After Jerome Powell, chair of the Federal Reserve spoke about interest rates, the financial markets went down. “The markets react poorly to uncertainty, and that’s really what happened. We had great news with a good CPI report. We went down, which was wonderful. Now we have a trend. Like we said, however, when the Fed came out and said, okay, we’re glad we have a trend. However, we don’t have enough data to know where we’re going to have to stop. And so just to be safe, we’re actually going to raise our target interest rate up to 5.1%.
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