Critics say the Fed has been too aggressive

Some, including President Trump, think the Fed raised interest rates too fast. It'll cost consumers and businesses will hire fewer workers.

Financial analyst and author Richard Rosso says home ownership will be more expensive.

"As the Fed is raising rates you are increasing borrowing costs and that's putting additional pressure on households."

Rosso says housing affects the entire economy.

"So we are seeing a slowdown in housing and to me, housing touches everything -- and to all of us it does."

Rosso says he agrees with President Trump; the Fed has been too aggressive.

"I don't see an element where we're going to have a 2008 kind of crisis, but I do see an element where we can very easily slip into a bear market and I believe the Fed would be primarily responsible for it."

Some observers say the interest rate hikes could lead to another housing crisis; businesses wouldn't hire as many workers and the record low unemployment rate would be a thing of the past.

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