As expected, The Fed raised interest rates again by 3/4 of a point, as one of the most aggressive strings of rate hikes in decades, continues.
"This is again, too little too late" said EJ Antoni, economist with the Heritage Foundation, "And I think it's silly that people are referring to this as a front loading of interest rate hikes. The Fed waited a year and a half too long before raising rates, they're not front loading, they're playing catch-up."
And now with word that The Fed is going to slow down the rate hikes, that is going to cause the catch-up to take even longer.
"If we really want to get inflation under control, we're going to need interest rates to get above the inflation rate" Antoni told KTRH, "And the longer it takes us to get there, the longer we're going to have to deal with the pain from inflation."
That inflation rate is currently 8.2%, and while it hasn't done anything to slow down inflation, it is keeping people from buying houses.
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